Big 3 hike pump prices anew

MANILA, Philippines - Big 3 oil firms Petron Corp., Chevron Philippines, and Pilipinas Shell Petroleum have raised again their diesel prices by 60 centavos per liter and kerosene by 50 centavos per liter effective 6 a.m. yesterday.

The diesel price hike coincided with their P1 per liter rollback on gasoline products as a response to competitive pressure after several small oil companies reduced their prices last Monday.

Data from the Department of Energy (DOE) showed that as of March 15, gasoline is sold at P52.25 to P57.96 per liter while diesel is sold at P44.65 to P46.65 per liter.

Petron, the country’s largest oil refiner, said it would investigate the reported liquefied petroleum gas leak on Monday from one of its AutoLPG dispensing pumps in Sta. Cruz, Manila.

“We immediately dispatched our safety and environmental team onsite. Our service stations are equipped with several safety features, including an automatic shut off of the pipelines once there are changes in pressure along the line (e.g. a leak). This safety feature was immediately triggered and shut down the LPG pipeline,” Petron said in a statement.

Petron implemented a standard operating procedure after the leak was reported and service station personnel immediately cordoned off the area and shut off all possible sources of ignition like electric lights.

The company said its personnel then proceeded to coordinate with the Bureau of Fire Protection and Philippine National Police.