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

**ghosthunter** · February 22nd, 2012 09:30 AM

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

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

**olidotcom** · February 22nd, 2012 10:12 AM

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

**_Qwerty_** · February 22nd, 2012 10:38 AM

oo nga.. 56.65 na ang unleaded!!!

**Retz** · February 22nd, 2012 10:39 AM

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

**uls** · February 22nd, 2012 10:43 AM

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

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

**KERSMcRae** · February 22nd, 2012 10:50 AM

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

^
eto lang ang maganda sa oil price hike. The rest are bad.
- - -
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.

**Retz** · February 22nd, 2012 10:51 AM

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.

saan location mo?

**Monseratto** · February 22nd, 2012 11:03 AM

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

Fuel Prices in the UK

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

**uls** · February 22nd, 2012 11:25 AM

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

**ghosthunter** · February 22nd, 2012 11:29 AM

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

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