00:00The Piston Group was called for a rollback
00:03following an increase of almost Php 3 per litre in the price of the petroleum product.
00:08In order to help the drivers, the LTFRB will provide a subsidy.
00:15And Joseph Moro was there to talk.
00:20Motorists are now on kick-pits and thrones
00:22because the price of gasoline and diesel increased by almost Php 3
00:27starting today.
00:28The highest price of diesel and kerosene is the highest this year.
00:32I know that it should be Php 52.
00:34Now it's Php 54.
00:37What effect will that have on you?
00:39Well, sir, of course, it's like a loss.
00:43Because it increased.
00:44The TNVS rider, Mang Jerry,
00:47said that he's saving money.
00:49From the Php 15 litre of gasoline before,
00:51he only has a litre now.
00:52Sometimes, Php 1,000.
00:54But now, sir?
00:55Php 500 only because it increased again.
00:58Because of the increase in crude oil,
00:59the drivers are now making less money.
01:03That's why the group of Pistons protested
01:05to call for a rollback.
01:07Tensions in other parts of the world,
01:09like the war in Israel,
01:10are the reason why the price of crude oil is increasing.
01:13The price of crude oil should not increase automatically.
01:17Because we have a 45-day supply of crude oil
01:20from the Department of Energy.
01:23And the crude oil we are currently using
01:26is the one we bought at a lower price.
01:29The Department of Energy admitted
01:31that the reason why the price of crude oil
01:33is increasing is due to speculations
01:35from the producers and buyers of crude oil in the world market.
01:37The major oil supplier produces
01:41around three to four million barrels per day
01:44and half of it is exported.
01:46In that half, there is no supply disruption.
01:51There is oversupply because
01:53the demand in America and China is low.
01:56But this is what the drivers are enduring.
01:58For an ordinary jeepney driver
02:00who consumes 30 liters of oil per day,
02:0381 pesos per day or more than 2,000 pesos
02:07is what he earns every month.
02:09But even if the price of crude oil is increasing,
02:12they have no intention of asking for
02:15additional payment from the Land Transportation
02:17Franchising and Regulatory Board or LTFRB.
02:20Our commuters are the ones who are suffering.
02:22We are telling them that they are short of money.
02:25But according to the DOE,
02:27in the first instance this week,
02:28the price of crude oil in the world market is low.
02:31If this trend continues to go down,
02:34especially if it goes straight to five days this week,
02:37we will really have a rollback next week.
02:40According to LTFRB,
02:42they are ready to provide a fuel subsidy
02:44for drivers of public vehicles.
02:48According to LTFRB Chairman Antonio Chofo Luguarez III,
02:51this is part of the 2.5 billion pesos subsidy
02:54under the 2024 national budget.
02:5610,000 pesos will be given to modern jeeps and buses,
03:006,000 for traditional jeeps that are consolidated,
03:03and 1,500 for tricycles that will be subsidized by LGUs.
03:08For GMA Integrated News, Joseph Morong,
03:11for Tutok 24 Horas.
03:24For Tutok 24 Horas.
03:54For Tutok 24 Horas.
04:24For Tutok 24 Horas.
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