Fuel prices set to increase for 5th straight week | ABS-CBN
ADVERTISEMENT
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
Fuel prices set to increase for 5th straight week
Fuel prices set to increase for 5th straight week
Alvin Elchico,
ABS-CBN News
Published Aug 04, 2023 02:57 PM PHT
|
Updated Aug 04, 2023 03:40 PM PHT
MANILA -- For the fifth straight week, another price increase looms for diesel and kerosene.
MANILA -- For the fifth straight week, another price increase looms for diesel and kerosene.
After 4 trading days, imported diesel is up by P3.38/liter while imported kerosene is also up by P2.40/Liter. Gasoline is slightly higher too by P0.13/L.
After 4 trading days, imported diesel is up by P3.38/liter while imported kerosene is also up by P2.40/Liter. Gasoline is slightly higher too by P0.13/L.
The main reason according to Department of Energy (DOE) Director Rino Abad is still the production cut in Saudi Arabia. Russia may also cut production in September, he added.
In the last 4 weeks, diesel prices have risen by P6.80/L, gasoline by P5.35/L and kerosene by P5.90/L.
The main reason according to Department of Energy (DOE) Director Rino Abad is still the production cut in Saudi Arabia. Russia may also cut production in September, he added.
In the last 4 weeks, diesel prices have risen by P6.80/L, gasoline by P5.35/L and kerosene by P5.90/L.
INCREASING ETHANOL BLEND
Meanwhile, the government is now preparing the standards for an increased bioethanol blend in gasoline.
Meanwhile, the government is now preparing the standards for an increased bioethanol blend in gasoline.
ADVERTISEMENT
Currently, the Philippines has mandated the use of 10 percent ethanol in all gasoline products.
Currently, the Philippines has mandated the use of 10 percent ethanol in all gasoline products.
In other countries, there are higher ethanol blends on gasoline, reaching up to 85 percent or even 100 percent.
In other countries, there are higher ethanol blends on gasoline, reaching up to 85 percent or even 100 percent.
Abad clarified, however, that there is no formal discussion yet on the shift from E-10 to E-20 in the National Biofuels Board. He said the DOE is just preparing the standards in case it is approved.
Abad clarified, however, that there is no formal discussion yet on the shift from E-10 to E-20 in the National Biofuels Board. He said the DOE is just preparing the standards in case it is approved.
The Mariano Marcos State University in Ilocos in 2019 did an experiment wherein they used a higher ethanol blend with brand new cars and motorcycles, and these vehicles are running fine until today.
The Mariano Marcos State University in Ilocos in 2019 did an experiment wherein they used a higher ethanol blend with brand new cars and motorcycles, and these vehicles are running fine until today.
Abad said government also needs to look into the feed stock or sugarcane, which should be enough to meet the demand in case country mandates E-20.
Abad said government also needs to look into the feed stock or sugarcane, which should be enough to meet the demand in case country mandates E-20.
CAR MANUFACTURERS WEIGH IN
The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) says it may take time before the industry can adapt to a higher ethanol blend.
The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) says it may take time before the industry can adapt to a higher ethanol blend.
"The increase in ethanol blend should be implemented based on reasonable timetable. It must consider the availability of fuel and the readiness of vehicles," said CAMPI President Rommel Gutierrez.
"The increase in ethanol blend should be implemented based on reasonable timetable. It must consider the availability of fuel and the readiness of vehicles," said CAMPI President Rommel Gutierrez.
"Current vehicle models need to be modified to be compliant with the new regulation. Considering the transition period, it will take 4-6 years for such modification," he added.
"Current vehicle models need to be modified to be compliant with the new regulation. Considering the transition period, it will take 4-6 years for such modification," he added.
RELATED VIDEO
ADVERTISEMENT
ADVERTISEMENT
