That had been hinged on the calculation of the oil companies based on the outcome of four-day trading in the world market, entailing then that actual adjustments could still change depending on the result of Friday’s trading.
International oil prices relatively settled within the US$57 per barrel range last week, with not much geopolitical events disturbing supply-demand dynamics in markets. But the controversy in oil pricing at the pumps had not tapered off yet in the Philippines, with the Department of Energy igniting fresh round of amendments in the Oil Deregulation Law.
At the same time, Cusi is pushing for a probe and explanation on the disparity of pricing across areas – such as what the DOE deems as P7 to P10 per liter difference in the prices of oil products in Baguio compared to the cheaper prices monitored in La Union and Pangasinan provinces.
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