TRANSPORT groups in Southern Mindanao are not calling for a rollback in public transportation fares amid the steady cutbacks in the prices of petroleum products in the past five months.
"Walata'y plano na ipa-rollback nato ang pamasahe...tungod kay wala pa muabot ang...gasolina ug P35. Kung mu-rollback siya sa P35 diha siguro makaplano na mi ug rollback (We still don't have plans for the rollback in public transport fares because the price of gasoline has not reached P35 yet but if it reaches P35, that might be the time we plan for a rollback in the fares)," Charito Juranes, Transmision/Piston chair, told Sun.Star Davao in an interview.
He said most of their members are using gasoline while only around two percent are using diesel.
Juranes, however, said they will still have to conduct a study should they plan to rollback the public transport fares, as there might be sudden increases in prices of petroleum products that would require them to adjust the fares again.
Based on the price monitoring of Department of Energy (DOE) Mindanao Field Office from January 2, 2014 to January 5, 2015, there is an P11.90 to P14 roll back in the prices of unleaded gasoline, which is now at P41.25, to P41.60 as of January 5, 2015 from P53.30 to P55.30 in January 2, 2014. while there is P12.75 to P14 decrease for premium gasoline, which now ranges from P41.85 to P42.20 from the previous P54.65 to P55.90.
There is also a P13 to P15.50 decrease in the price of diesel, which is now at P29.85 to P31.95 as compared to its previous price of P44.90 to 47.40 in 2014, while there is a P6.80 to P16.75 rollback for kerosene, which is now at P36.97 to P45 from P51.80 to P55.35.
Data showed that the prices of petroleum products steadily declined starting July 15, 2014 and there were only four instances of price increases.
In a separate interview, DOE Mindanao energy industry management division chief Nilo J. Geroche said the rollback in the prices of gas was due to increased supply in the availability of petroleum products in the world market.
According to the Organization of the Petroleum Exporting Countries basket price watch, the price of petroleum is now at $51.91 per barrel as compared to $104.71 per barrel on January 2014.