Protests greeted the oil price hike implemented by various gasoline firms on Tuesday.
Diesel prices rose by more than 50 cents per liter, while prices of gasoline rose by more than 90 centavos per liter.
Among the protesters were from the jeepney drivers’ group PISTON.
According to jeepney drivers, the oil price hike would affect their daily income.
George San Mateo, PISTON national president, said the price hike would take away more than P130 from their daily income.
Piston members held a noise barage in front of the House of Representatives building in Quezon City on Tuesday, March 10.
But the Department of Energy defended the oil price hike.
Energy Undersecretary Zenaida Monsada said the oil price hike was based on the price of actual importation and production costs.
She cited the Mean of Platts of Singapore, which is the average of a set of Singapore-based oil product price assessments published by Platts, a global energy, petrochemicals, metals and agriculture information provider.The Platts assessment process determines the value of physical commodities 15–30 days forward for many oil products loading in Singapore. (Eagle News Service)
