Oil firms impose 'big' price hikes as "Lent 2012" starts

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Oil firms impose 'big' price hikes as Lent starts
February 22, 2012 7:29am


On the first day of Lent, a season of self-sacrifice, oil companies imposed Wednesday a "big" fuel price hike, with the price adjustment in some products breaching the P1 mark.

The oil firms including Shell, Total, Chevron and Petron made their price hikes effective 6:01 a.m., radio dzBB reported.

Premium and regular gas had the biggest price hikes, ranging from P1.15 to P1.35 per liter.

Shell increased prices of its premium gas by P1.15 per liter; regular by P1.35 per liter; diesel by 50 centavos per liter; and kerosene by 55 centavos per liter.

Total increased its prices for premium and unleaded gas by P1.15 per liter; regular gas by P1.30 per liter; and diesel by 50 centavos per liter.

A separate report by dzBB's Sam Nielsen said Petron and Chevron increased prices of premium and unleaded fuel by P1.15 per liter; and diesel by 50 centavos per liter.

On Tuesday, militants held a noise barrage at a gasoline station in Manila at noon to protest the continued hikes in fuel prices.

Several members of militant groups brought placards denouncing President Benigno Aquino III for focusing only on ousting impeached Chief Justice Renato Corona.

"Aquino puro Corona, inutil sa ekonomiya," read a poster brought by one of the protesters, as depicted in a photo posted on the Twitter account of Kabataan party-list secretary general Vencer Crisostomo.

Other placards brought by the militants urged motorists to honk their horns to protest fuel price hikes.

The noise barrage was held at the corner of Taft Avenue and Pedro Gil Street, Bagong Alyansang Makabayan secretary general Renato Reyes Jr. said.

Reyes also tweeted the protest was meant to call for the scrapping of the value-added tax and deregulation of the oil industry.

"Scrap VAT and deregulation. Aquino puro Corona inutil sa ekonomiya," he said.

A separate report by radio dzBB's Carlo Mateo said there was no initial report of violent confrontation with police.

Earlier, the Manila Police District said it was securing fuel facilities in Manila's Pandacan area amid plans by militant groups to stage protest actions. — LBG, GMA News

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SOURCE: Oil firms impose 'big' price hikes as Lent starts | GMA News Online | The Go-To Site for Filipinos Everywhere

grabe.. i think this is the all time high na for the past 1 year? or 2 years? :(

oo nga.. 56.65 na ang unleaded!!!

Magkano na fuelsave diesel ngayon? Php47+/Li na?

ok lang yan... para mabawasan ang mga sasakyan sa kalye

meron mga tao iiwanan ang sasakyan sa bahay at mag co-commute nalang

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Originally Posted by uls

ok lang yan... para mabawasan ang mga sasakyan sa kalye

meron mga tao iiwanan ang sasakyan sa bahay at mag co-commute nalang

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^
eto lang ang maganda sa oil price hike. The rest are bad.
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here at my current location (outside RP), it's equivalent to Php67.94 +/- per liter... Which means gas price is still lower in the Phil.

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Originally Posted by KERSMcRae

here at my current location (outside RP), it's equivalent to Php67.94 +/- per liter... Which means gas price is still lower in the Phil.

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saan location mo?

You should see fuel prices in the EU. Fuel prices rose steadily...

Fuel Prices in the UK

http://news.bbcimg.co.uk/media/image...el_oil_464.gif

And prices haven't peaked the same highs as last year... I shudder the thought how much oil prices will be if natuluyan yung gulo sa Iran.


NYMEX Crude

http://quotes.ino.com/chart/history....&w=1&a=0&v=d12

it will halt the growth of the Phil. economy

the Bangko Sentral has been cutting rates to stimulate growth. inflation will rise as more money goes out to buy the fuel so the BSP will have to stop cutting rates to keep inflation under control but that would slow down growth... hirap ng trabaho ng central banker

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Originally Posted by uls

it will halt the growth of the Phil. economy

the Bangko Sentral has been cutting rates to stimulate growth. inflation will rise as more money goes out to buy the fuel so the BSP will have to stop cutting rates to keep inflation under control but that would slow down growth... hirap ng trabaho ng central banker

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It will not just halt the growth, it might even start a backslide due to expensive transport costs.

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Originally Posted by Retz

saan location mo?

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Montreal . Pump prices to date are at 138.4 +/- per liter.
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According to our colleagues here, the country have its own source of oil, but the supply being sold here still come from other countries. Mas mura pa rin daw pag imported..

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Originally Posted by KERSMcRae

Montreal . Pump prices to date are at 138.4 +/- per liter.
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According to our colleagues here, the country have its own source of oil, but the supply being sold here still come from other countries. Mas mura pa rin daw pag imported..

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yep even if Canada is a net exporter of oil they still import a lot of oil

doesnt make sense ba?

oil fields are located in the western part of Canada while the main population centers are in the eastern part

lack of pipelines to bring the oil to the western part

refineries unable to process the type of crude produced (heavy crude)

so they have to import oil

You have Iran to blame for all of this..

Meanwhile..Oil stocks are going crazy at the phil stock market

also speculators are betting on US economic growth

that translates to more demand for energy

In support lang sila ng sakripisyong hinahanap ng marami ngayong Lenten Season.... :eek:

15.0K:smoke:

penitensiya......:twak2:

mag Auto-LPG na kasi kayo! :grin:

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Originally Posted by ghosthunter

mag Auto-LPG na kasi kayo! :grin:

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Nako po... magkaka respiratory problems po kayo at hihina hatak ng kotse nyo. Sabi ng taxi driver na sinakyan ng kaibigan ng officemate ng bayaw ko nung isang araw. Hehe. :grin:

nagsimula na ang kalbaryo... di na makatarungan yan!

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Originally Posted by uls

ok lang yan... para mabawasan ang mga sasakyan sa kalye

meron mga tao iiwanan ang sasakyan sa bahay at mag co-commute nalang

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Mukhang magkakaalamanan na naman kung sino talaga ang may pera!...