Fuel prices to increase yet again this week 

A week ago, a huge rollback gave many motorists a relief from the current string of fuel price surges. Recently, a string of objectively unfortunate factors is once again causing another rise in fuel prices. 

If you are able, it might be a good idea to fill up before the price increase hits

For Philipinas Shell, its price increases will be implemented on March 29, 2022 at 6:00 am. For diesel, it will be increasing its price by Php 8.65 per liter. Their gasoline, meanwhile, will get a Php 3.40 per liter increase, while their kerosene will get a Php 9.40 increase.

Other brands like CleanFuel and PetroGazz are also making similar price adjustments on March 29, 2022 at 8:01 a.m., and 6 a.m., respectively.  

The said fuel price hike is more than the estimated adjustment made by PH Fuel Watch, which reported that local prices for diesel will increase by as much as Php 8.00 to Php 8.30 on Tuesday, March 29, 2022. The same source is also saying that gasoline prices will increase by as much as Php 2.90 to Php 3.10 on the same date.  

PH Fuel Watch also noted that the actual fuel prices will vary per fuel station and location. Regardless, this will be a blow to many whose livelihoods heavily depend on fuel. These are the transport sector, logistics businesses, goods distribution businesses, etc. 

In response to this, several transport groups have already held strikes. Some groups have also called out a need to cut the taxes on fuel, fare hikes, and for the government to provide for in the way of “ayuda,” as well as fuel subsidies. 

As we’ve reported before, the Land Transportation Franchising and Regulatory Board (LTFRB) has already distributed fuel subsidies for up to 115,000 public utility drivers so far. It is also continuing its printing of Pantawid Pasada cash cards. Transport network vehicle service (TNVS) and UV express units will get their cards starting March 28, 2022, according to the LTFRB. 

The public transport sector will be negatively affected by this increase

The said price increase on Tuesday is primarily connected to Russian President Vladimir Putin’s threat of cutting off gas imports to Europe. There's also the fact that Saudi Aramco's fuel distribution facility and storage facilities in Jeddah were also hit by attacks by Houthi rebels.

Furthermore, a pipeline facility located at the Caspian Sea has had to stop its oil tanker loading operations due to a major storm. According to news sources, the said storm has knocked out landing buoys, which is crucial to oil tanker loading operations. 

Repairs for this buoy might take up to more than three weeks. Also, note that this facility sources its supplies and parts from Russia. With Russia being bombarded with several sanctions right now due to its invasion of Ukraine, importing the said parts might take a while.

For more up-to-date motoring and transport news, keep it here on Philkotse.