By J. Jala | 10:11 PM October 19, 2021

Local oil companies raised diesel prices by P1.50 a liter and gasoline by P1.80 starting Tuesday, Oct. 19.

Prices of kerosene also increased by P1.30 a liter.

Pump prices in Tagbilaran City, Dauis and other towns now range from P49. 70 to P53. 60 a liter of diesel and P56.75 to P70.44 for unleaded gasoline.

The uptrend, which has so far gone uninterrupted for eight straight weeks, has added a total of P8.65 a liter to diesel pump prices. Since the start of 2021, diesel has seen a net increase of P18 a liter.

The eight-week rise in gasoline prices now totaled P7.20 a liter. Gasoline also saw a net increase of P19.70 a liter since the start of the year.

Regular diesel is now at P44.85 to P69.05 .

Pump prices have been going up since bad weather in the Gulf of Mexico disrupted petroleum production, and persisted as major crude oil producers, including the Organization of Petroleum Exporting Countries, Russia and their allies did not announce new plans to increase their output during their latest meeting held earlier this month.

The Department of Transportation (DOTr) on Monday said it was looking at fuel subsidies and direct aid to both public utility drivers and passengers to avoid having to increase fares for public transport.

In a statement, Transportation Secretary Arthur Tugade said the department believed it was “not the right time” to raise fares, with the country’s workforce still barely recovering from the impact of closures and restrictions to businesses and jobs.

“We need to balance the needs of drivers and the ability of our commuters during this pandemic,” he said. “So instead of directly increasing fares, we are pushing for financial aid for drivers and commuters.”

Among others, he said, they were looking at possible uniform discounts on public utility vehicles (PUVs) across all gas stations nationwide.

By Bohol Island News

Your reliable source of news and content in the island and the rest of Central Visayas and Mindanao.

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