Goking calls out DOE, DTI: Probe erratic petrol prices

THE Department of Energy (DOE) may need to find a way to act on the continued oil price increases following some petrol stations in the city started selling fuel products at P96 per liter.

The surge in fuel prices comes after the oil companies implemented another oil price hike on Tuesday, this week.

“The Gasoline is priced at P96 per liter in the city. The DOE may need to find a way to stop the continued weekly increases,” said Goking.

Goking even urged the Department of Trade and Industry (DTI) to look into the alleged high and erratic prices of petroleum products, particularly on Camiguin Island.

Reportedly, oil stations in Camiguin already selling fuel products even over P100 per liter, said Goking.

Earlier, Goking said pump prices of petroleum products could hit P100 per liter should the weekly increases continue.

“The DOE and DTI officials should look around and determine the real cause before discussing measures to address the problem,” Goking said.

He said that fuel products are being sold by oil companies at different prices.

“Are these DOE officials need EENT (Eyes, Ears, Nose, Throat) clinic? The increases are too much already,” Goking said, adding that where is now the Law (Oil Deregulation) that is supposed to protect oil companies from price control?

According to Energy Undersecretary Gerardo Erquiza Jr., on Wednesday the increase to P100 per liter is possible, but this is unlikely to happen in a single weekly increase.

“I'm not sure if the DOE refused to see and refused to listen,” Goking said.

The DOE did not elaborate as weekly increases continue due to a mix of factors, according to Goking.

The DOE even insisted that a P100 per liter scenario is still far from reality even if a “dramatic extreme reason” were to influence prices.

The DOE said that what is happening accumulates the weekly oil price increases. But prices suddenly reaching P100, that is not likely to happen.

Meanwhile, Goking also cited the price of diesel, however, has also reached P100 per liter at a gas station in Borongan City, Eastern Samar.

Growing concern over consumers come after oil refineries Pilipinas Shell Petroleum Corp. and Seaoil Philippine, Inc. announced per liter prices hikes worth P0.80 for gasoline, P3.10 for diesel, and P1.70 for kerosene effective on Tuesday.