FOR the fifth consecutive week, oil firms are raising petroleum products on Tuesday morning.
In separate announcements, they said gasoline prices would go up by P0.55 per liter, diesel by P0.90 per liter and kerosene by P0.95 per liter.
Seaoil, PTT Philippines, Phoenix Petroleum, Total Philippines, Caltex Philippines, Pilipinas Shell said they will raise pump prices at 6 a.m. of September 28. Cleanfuel, on the other hand, will implement the same price increase at 4:01 p.m.
Other oil firms have yet to announce their price adjustment, but are expected to implement Tuesday morning the same price increase.
The latest oil price hike brings the year-to-date adjustments to stand at a total net increase of P15.1 per liter for gasoline, P12.95 per liter for diesel and P10.65 per liter for kerosene.
Oil firms adjust their pump prices every week to reflect movements in the world oil market.
Based on DOE monitoring, Dubai crude has increased last week by around $2.15 per barrel. MOPS gasoline and MOPS diesel have also increased by almost $2.40 per barrel and $ 2.30 per barrel, respectively.
Meanwhile, the Department of Energy (DOE) has issued a circular meant to intensify the compliance of oil firms in the implementation of existing rules and regulations and requiring the submission of requirements pursuant to Downstream Oil Industry Deregulation Act.
The circular applies to all refiners, importers, bulk distributors, terminal operators/lessors, bunker traders, haulers and own users of crude oil and finished petroleum products as well as all blenders, marketers and own users of base oils and lubricating products under the Philippine Downstream Oil Industry.
The circular provided rules on the submission of documentary requirements and reportorial templates regarding acknowledgement or registration requirements of downstream oil industry participants. It also governs the matter of required submission of notices and reports by downstream oil industry participants.
Under the circular, participants are required to regularly submit to the Oil Industry Management Bureau (OIMB) of the DOE their monthly, quarterly, and annual reports about their profile, activities and inventory flow.
They are also directed to submit reports on maintenance shutdown, oil spill notification, weekly oil spill progress report, as well as calamity or emergency damage assessment and daily progress report on such matters.
The DOE said data will form part of the Downstream Oil Industry Sector Report in the Philippine Energy Plan, which will be useful as reference reports to the downstream oil industry.
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