31 pesos na bawat litro

Oil price hike on Maundy Thursday


TV PATROL

Local oil firms continue to "crucify" the public with soaring petroleum prices as they announced an imminent price adjustment even on Maunday Thursday, TV Patrol reported Tuesday.

On Wednesday midnight, oil giants are expected to increase their P30-per liter gasoline to P31.

Ramon Villavicencio, president of small player Flying V, said they will implement a two-step increase by effecting a P0.50 adjustment on gasoline, kerosene and diesel products midnight Thursday.

He said the balance of P0.50 would be imposed Tuesday next week.

"Flying V has decided na 50 centavos sa midnight going to Thursday. People have already traveled and then sa Tuesday ulit going to Wednesday when people would have already come back," Villavicencio said.

He also said oil price increases are expected to continue until April. It was not known if the other small players would adopt the two-step formula of Flying V.

This is the fourth time that oil firms will increase their prices since January.

Militant organizations and Civil Society groups are already up in arms over the unabated price increases.

They are pressing government to repeal the Oil Deregulation Law, which allowed local oil companies to adjust their prices without regulation from government agencies.