Fuel price rollback expected today

CEBU, Philippines —  A major price rollback for diesel and kerosene will be implemented by fuel companies starting at 6 a.m. today.

Petron, Phoenix Philippines, Seaoil, Unioil, Petro Gazz and Cleanfuel announced yesterday that they will slash per liter rates of diesel by P3 while P3.40 per liter for kerosene.

Today’s price rollback follows four straight weeks of fuel price hikes. In fact, as of June 28, the total price increases per liter of gasoline have reached P30, for diesel P45.80, and kerosene P39.75 since January.

Ryan Benjamin Yu, general manager and president of Cebu Integrated Transport Multi-Purpose Cooperative, welcomed the price rollback.

“Dakong kalipay nato ug naghinaut ta nga magsige nani og rollback karon nga naa na sa bag-ong administrasyon ni PBBM,” Yu said.

Recently, the Land Transportation Franchising and Regulatory Board granted a P2 provisional increase in the minimum fare for public utility jeepneys.  The minimum fare for traditional jeepney is now P11 and P13 for modernized jeepneys.

Virgilio Ursaga, a jeepney driver, said that he is hoping that today’s price rollback will increase his net take home.

Ursaga said that since the price of diesel is now almost P100 per liter, his net take home for his family has also reduced. He said he is now earning between P500 to P700 a day.

“Maayo nga naay rollback aron sab modako dako among take home pay alang sa among pamilya.  Dili pud baya lalim mag drive tibuok adlaw unya pwerte pang inita,” he said.

Meanwhile, Yu is hoping the new administration will continue the “Libreng Sakay” program of the previous administration.

“Nindot nga ipadayon ang libreng sakay pero dili na pinili sama sa una. Unta apilon ni tanan nga denomination,” said Yu.

According to Yu, not all modernized jeepneys and traditional jeepneys were allowed to join the program.

The Service Contracting Program Phase 3 was implemented by the Department of Transportation and the LTFRB-7 to help the transport sector cushion the effect of the pandemic. The program ended on June 15, 2022.

The phase 3 of the program, which started from April 11, 2022 to June 15, 2022, benefitted a total ridership of 12,209,943 as of June 14, 2022, according to the records of LTFRB-7. — FPL (FREEMAN)