Oil prices up anew; Mandaue tricycle drivers to get help

PETROLEUM companies in the Philippines announced again Monday, June 27, another price adjustment for gasoline, diesel and kerosene.Shell, Caltex and Seaoil will implement a P.50 per liter increase on gasoline, P1.65 per liter on diesel and P.10 per liter for kerosene effective June 28, 2022.Cleanfuel will implement the same increase except for kerosene, which it does not carry.Caltex will implement the price adjustment at 12:01 a.m. of June 28 while Shell, Seaoil will do so at 6 a.m. the same day.Cleanfuel will implement the price hike at 8 a.m. Tuesday.Pump prices for gasoline went up in the recent four consecutive weeks while diesel in the last five weeks.The Energy department earlier said oil prices may hit P100 per liter if the hikes driven by the Russian oil ban by the European Union caused by its invasion of Ukraine, the increased demand in the United States and China, and the premium in Saudi Arabia crude would continue.Another factor is the increase in demand for fuel amid the recovery of economies from the coronavirus disease pandemic.Diesel and gas are now going for over P90 per liter, with diesel now being more expensive than gas after diesel prices rose faster than gas prices this year.From the start of the year to June 21, there has been a net increase of P44.25 per liter in the price of diesel, P29.50 per liter for gasoline, and P39.65 per liter for kerosene.Tricycle driversIn Mandaue City, Cebu, about 957 legitimate tricycle drivers and operators in Mandaue City will receive cash assistance amounting to P5,000 each, an official of the City Treasurer’s Office (CTO) told reporters on Monday, June 27, 2022.Julie Ballesteros, assistant city treasurer of Mandaue City, said the distribution of the cash aid would be from June 30 to July 1 at the Mandaue City Sports and Cultural Complex.The cash will serve as fuel subsidy for licensed tricycle drivers and operators in the city who have been battling the erratic prices of fuel this year. The Mandaue City Government is preparing the subsidy pursuant to a city ordinance.It will be equally distributed in the city’s four zones. There will be around 169 recipients in Zone 1, 430 in Zone 2, 125 in Zone 3, and 233 in Zone 4.Ballesteros said the Mandaue City Government had allotted about P4.7 million for the cash assistance. The distribution time would be from 9:30 a.m. to 5 p.m., but only until noon on July 1, as she said the CTO would have its month-end liquidation.Beneficiaries are advised to bring at least one valid ID upon making a claim. (TPM / SunStar Philippines, HIC)