DOE TO SUSPEND PERMITS OF ABUSIVE GASOLINE STATIONS
Fuel prices are expected to increase on January 16, 2018 when the Tax Reform for Acceleration and Inclusion or TRAIN Law has already steamrolled.
However, according Senate Committee on Energy Chairperson Senator Sherwin Gatchalian, some gasoline stations have already raised their prices as early as December last year.
The Department of Energy (DOE) assured that gasoline stations which are proven to have increased their prices before running out of their old stocks are in danger of having their certificate of compliance revoked.
Oil companies could also have their accreditation to import suspended.
According to the Energy department, the first gasoline stations to raise their prices are Caltex, Shell, Petron and Flying V.
To ensure that there are no abuses and profiteering, DOE has implored the help of the Oil Industry Management Bureau to randomly inspect the inventories of gasoline stations and depots.
Under the TRAIN Law, gasoline will increase by P2.97/liter, Diesel will increase by P2.80/liter, kerosene will increase by P3.36/liter, and LPG will increase by P1.12/kilogram.
Despite DOE's statement that increase in fuel will take effect by the end of January, consumers already feeling the price hike.