PISTON Cebu: Surge of fuel prices to possibly reach P20 by year-end

By: King Anthony Perez October 02,2018 - 10:34 AM

Transport group Pinagkaisang Samahan ng mga Tsuper at Operator Nationwide (PISTON) believe that increases in fuel prices will continue until year-end.

Greg Perez, PISTON Cebu coordinator, said that fuel price increases could even reach as much as of P20.

Based on their computation, Perez said they have recorded an increase of P13.50 in the cost of diesel and P13.65 in the cost of gasoline from January to October 2, 2018.

Prices have already increased eight times in the last last 10 months, he said.

On Tuesday (October 2), fuel prices again increased by up to P1.35 per liter, the highest so far in the last two months and is seen to further push the inflation rate.

Perez said blamed the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) for the continuous rise in oil prices.

He explained that an excise tax of P3 is levied in every liter of fuel products.

The transport group coordinator added that the government’s subsidy program for jeepney drivers is only a ‘band-aid solution.’

Under the Pantawid Pasada Program, qualified public utility jeepney drivers (PUJs) will receive P5,000 to mitigate the effects of the implementation of the TRAIN law.

“Daan nata nga gaingon nga ang pagsaka sa presyo sa lana, dili lang world market ang hinungdan. Ang lana apektado sa excise tax sa TRAIN Law,” Perez said.

Aside from the repeal of TRAIN Law, Perez reiterated their group’s call for the government to regulate the oil market by abolishing the Oil Deregulation Law.

Perez said they are now waiting for instruction from their central office whether or not to conduct protest actions in the context of continuing rise of oil prices.

“Nasayod ta nga ang pagsaka sa presyo sa lana duna’y epekto di lang sa mga drayber, apil na ang katawhan,” Perez said.

Among those which announced the implementation of price increases included Shell, PTT, Total, Flying V, Seaoil, Unioil, Eastern, Caltex, and Phoenix.

Shell, Seaoil, Flying V and Caltex also raised kerosene prices by P1.10 per liter.

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TAGS: end, fuel, P20, Piston, prices, surge, YEAR
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