Interviewed on GMA News’ Unang Balita, DOE’s Oil Industry Management Bureau director Rino Abad said they do not see any events that can offset the series of price increases.
Abad cited the European Union’s ban against oil importation from Russia, the potential surge of demand for fuel during the summer season in the Northern Hemisphere, and the ongoing Ukraine-Russia conflict. Nevertheless, Abad pointed out that the price of fuel in Palawan does seem overpriced and remains unexplained by oil companies.
Aside from the fuel subsidies and discounts that the government is providing to PUV drivers and farmers, Abad said oil companies offer promo programs for their customers as requested by the DOE.to mark the second straight week of increases for diesel and kerosene.
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