Looming transport strike, further rise in the price of oil
A group of jeepney drivers and operators have warned they will stage a transport strike if the government does not follow through on their petition for a P2 tariff hike as oil companies raise pump prices again by close to P1 per liter on Tuesday, marking the eighth straight week of increases.
“We can no longer wait for the price increase promised by [Land Transportation Franchising and Regulatory Board] President [Martin] Delgra. So maybe it’s better for a single, wide-ranging strike,” National La Liga ng Transportasyon President at Operators sa Pilipinas, Orlando Marquez, said in a radio interview.
“It doesn’t matter if we die fighting, as long as we don’t starve,” he added.
Delgra confirmed earlier that the LTFRB had received a petition to raise the minimum jeepney fare to P10, but said the Department for Transport was more willing to help meet the financial needs of the public transport sector through programs service contracts and
Cash assistance “Pantawid Pasada” than a fare hike.
On Saturday, Unioil Petroleum Philippines said that, based on its price forecast for the February 22-28 trading week, the price of petrol would increase by P0.80 to P0.90 per litre. Diesel will probably increase from P0.60 to P0.70 per litre.
On February 15, oil companies implemented a price increase for the seventh consecutive week which resulted in adjustments since the beginning of the year to reach a total net increase of P7.95/litre for petrol, P10.20/litre for diesel and P9/litre. 10/litre for kerosene.
Crude oil prices rose on tighter supply prospects despite easing geopolitical tensions on the Russian-Ukrainian border and a potential return of Iranian barrels to the oil market, according to the Energy Ministry.
Last week, the DOE warned that the upward trend in oil prices could continue over the next two months and would only start to decline in May or June due to the continued tightness of oil supply.
DOE Director for the Office of Petroleum Industry Management Rino Abad said supply issues among members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies have helped push up prices. price.
The LTFRB said on Friday that public utility vehicle operators and those providing delivery services should be given an alternative fuel
government subsidy once the program resumes in April this year.
“The DOTr and LTFRB are prepared to continue the fuel subsidy program which is expected to resume in April 2022,” the LTFRB said in a statement.
While the program budget has been approved under the 2022 Omnibus Appropriation Act, the LTFRB is still awaiting the release of
funds from the Budget and Management Department.
The program, he said, will have a total of 377,443 beneficiaries who will receive a fuel subsidy amounting to 6,500 pesos.
These beneficiaries will include concessionaires of traditional and modern PUV franchises, buses, mini-buses, taxis, UV Express, transport network
vehicle services and tourist transport services.