00:00Good evening, Luzon, Visayas, and Mindanao.
00:05In the third consecutive year, in January, the price of diesel and gasoline rose by more than two pesos.
00:12The price of kerosene also rose by almost two pesos.
00:16The big-time oil price hike was overcome by several transport groups in Bayapila
00:20that, if not to roll back, will raise their prices because of the huge decrease in their earnings.
00:25The LCFRB is now studying the petition for the high price hike
00:29that they should have implemented a long time ago.
00:32Joseph Moro has the story.
00:37The third oil price hike was implemented at the beginning of the new year.
00:42Since 6 in the morning, the price of diesel increased by almost three pesos.
00:47Almost two pesos per liter of gasoline and two pesos and fifty centavos per liter of kerosene.
00:53That's the biggest three-time price hike since January.
00:58For now, the common price of diesel in Metro Manila is almost fifty-eight pesos per liter,
01:04gasoline is almost seventy pesos per liter, and kerosene is almost seventy-three pesos.
01:10In this gas station in Quezon City, the price of diesel is now fifty-seven pesos per liter,
01:15which was only fifty-five pesos before.
01:18That's why the diesel cost of the jeepney driver, Lorenzo, was reduced.
01:22Yesterday, my price was five hundred pesos.
01:25Now, it's eight.
01:27Before, the price of diesel was four hundred and three hundred pesos.
01:31Now, he spent five hundred and fifty pesos for a liter of diesel.
01:37The effect of the new oil price hike is also reduced.
01:41Before, I used to earn seven hundred pesos.
01:46Now, I don't know, maybe I won't be able to earn seven hundred pesos
01:51because the price of diesel is too high.
01:55The reason for the oil price hike is the sanctions or the prohibition of America
01:59to process the crude oil produced by Russia.
02:02This could be followed if there is no increase in production
02:06by the Organization of Petroleum Exporting Countries or OPEC.
02:10If the OPEC decision can be reversed immediately,
02:14that will be the only way to neutralize.
02:17Other than that, there will be tightness.
02:20There is a tendency to increase.
02:23Again, if the OPEC trust can be reversed, there will be a reversal of the tendency to increase.
02:30The call of the transport crew is a callback.
02:33But if it's just Ray and Lorenzo, they should raise the price of oil.
02:38Yes, sir. It should be a little higher.
02:42How much?
02:44Even if it's just a peso.
02:45According to the LTFRB, there are four petitions asking for an increase in the price of oil
02:51that is being supplied to them now.
02:53Three are from jeepney operators and one is from bus operators.
02:58The minimum price of oil for jeepneys is 13 pesos and 15 pesos for buses.
03:04According to the LTFRB, the jeepney and bus operators are asking for an increase of pesos up to three pesos.
03:11I think the increase is already long overdue.
03:14Because the price of gasoline and the cost of maintenance of these motor vehicles has been increased.
03:22So it is imperative that we add.
03:25But the issue is how much fare hike will be given.
03:29They are asking for NEDA's study on what will be the effect of this on inflation or the price of goods and the economy.
03:35But for some commuter and driver, the price of crude oil should not be increased.
03:40Before the increase of gasoline, the minimum price should also be increased.
03:45Of course, there are a lot of expenses.
03:49For GMA Integrated News, Joseph Morong, for Tutok 24.
03:59For Tutok 24, Joseph Morong.
Comments