MANILA, Philippines — Monday, March 9 is set to be the last day for motorists to avail of capped gas prices before fuel costs are adjusted the following day, according to the Department of Energy (DOE).
The next regular fuel price adjustments will take effect tomorrow, Tuesday, March 10.
The DOE had implemented a price cap from March 6 to March 9, setting the following ranges:
- Gasoline (RON 97/100) at P53.70 to P76.50 per liter
- Gasoline (RON 95) at P50.00 to P71.04 per liter
- Gasoline (RON 91) at P49.00 to P64.70 per liter
- Diesel at P49.00 to P66.59 per liter
- Diesel Plus at P56.80 to P74.81 per liter
- Kerosene at P78.90 to P99.89 per liter
A number of gas stations across the country have already reported running out of fuel supplies due to a larger number of customers lining up for gas while the prices were still capped.
“We recognize that the industry operates under challenging global conditions, and we appreciate those who continue to act responsibly. At the same time, we will not allow any party to take advantage of the situation. Fair pricing and adequate supply are a commitment to every Filipino whose daily needs depend on it,” DOE Secretary Sharon S. Garin said in a statement on March 7.
The DOE reminded that hoarding and other illegal sales practices are prohibited. It is currently coordinating with the Department of the Interior and Local Government and the Philippine National Police to monitor gas stations across the country.
The DOE has already caught at least two gas stations in Quezon City after it already implemented a price adjustment before March 10. The two stations have been issued a show cause order.
Oil prices sharply increased after conflict in the Middle East escalated over the last few weeks. The United States and Israel struck Iran, prompting Tehran to retaliate across Gulf nations that housed American military bases.