Fuel discounts vowed even with lifting of oil price cap
11/16/2009 | 10:17 PM
Petroleum companies have vowed to continue giving fuel discounts to residents of storm-damaged areas even after the government lifted a price cap on oil products.
The assurance was given after Executive Order 845 – which rescinded EO 839 that froze oil products at October 15 levels – fueled fears that prices would immediately shoot up in the coming days.
The new EO was signed by President Gloria Macapagal Arroyo on Monday.
Under the newly-issued EO, oil players were requested to provide discounts of P2 per liter on diesel, P1.25 per liter on gasoline, and P1.50 per liter on kerosene in Marikina City, Malabon, and Pasig City in Metro Manila, Benguet, Baguio City, Pangasinan, Eastern Laguna, Rizal, Ilocos Norte, Ilocos Sur, and Mountain Province.
Oil companies were also requested to implement "staggered" adjustments in implementing pump price increases.
Petron Corp., the Philippines’ leading refiner, said it will “offer price discounts" on its gasoline, diesel, kerosene, and cooking gas products “until the end of November.
Prices of its automotive and motorcycle lubricants sold at its service stations will also be frozen until December 31, its president Eric Recto added.
Pilipinas Shell Petroleum Corp. (PSPC), the local unit of Dutch-based Shell, will continue to provide discounts to commuters and transport groups, said Edgar Chua, the company’s country manager.
Unioil Philippines will keep its prices at October 15 levels as a form of assistance to their customers, Chito Medina Cue, the company’s general manager said.
EO 839 was issued on October 23 after cyclones “Ondoy" and “Pepeng" left massive devastation in the country, particularly in Metro Manila and Northern Luzon.
It was rescinded a week after Energy Secretary Angelo Reyes said that fuel supplies in Luzon might hold up for eight to 13 days only.
Citing a report from the National Disaster Coordinating Council, the President said the "underlying reason for the issuance of EO 839 no longer exists."
Subsequently, price ceilings on basic commodities have been lifted.
But Mrs. Arroyo assured that “rehabilitation efforts continued to be undertaken in order to assist the victims of the calamity." - With Aie Balagtas-See, GMANews.TV
The assurance was given after Executive Order 845 – which rescinded EO 839 that froze oil products at October 15 levels – fueled fears that prices would immediately shoot up in the coming days.
The new EO was signed by President Gloria Macapagal Arroyo on Monday.
Under the newly-issued EO, oil players were requested to provide discounts of P2 per liter on diesel, P1.25 per liter on gasoline, and P1.50 per liter on kerosene in Marikina City, Malabon, and Pasig City in Metro Manila, Benguet, Baguio City, Pangasinan, Eastern Laguna, Rizal, Ilocos Norte, Ilocos Sur, and Mountain Province.
Oil companies were also requested to implement "staggered" adjustments in implementing pump price increases.
Petron Corp., the Philippines’ leading refiner, said it will “offer price discounts" on its gasoline, diesel, kerosene, and cooking gas products “until the end of November.
Prices of its automotive and motorcycle lubricants sold at its service stations will also be frozen until December 31, its president Eric Recto added.
Pilipinas Shell Petroleum Corp. (PSPC), the local unit of Dutch-based Shell, will continue to provide discounts to commuters and transport groups, said Edgar Chua, the company’s country manager.
Unioil Philippines will keep its prices at October 15 levels as a form of assistance to their customers, Chito Medina Cue, the company’s general manager said.
EO 839 was issued on October 23 after cyclones “Ondoy" and “Pepeng" left massive devastation in the country, particularly in Metro Manila and Northern Luzon.
It was rescinded a week after Energy Secretary Angelo Reyes said that fuel supplies in Luzon might hold up for eight to 13 days only.
Citing a report from the National Disaster Coordinating Council, the President said the "underlying reason for the issuance of EO 839 no longer exists."
Subsequently, price ceilings on basic commodities have been lifted.
But Mrs. Arroyo assured that “rehabilitation efforts continued to be undertaken in order to assist the victims of the calamity." - With Aie Balagtas-See, GMANews.TV
