The Manila Times
DIESEL prices will go down, while gasoline prices could rise next week, mostly due to the global market reacting to a possible ceasefire between the US and Iran, local oil industry sources said on Friday. They said diesel prices will decline by around P6.00 to P8.00 per liter, while gasoline is estimated to go up by about P1.00 to P4.00 per liter. Industry sources based these estimates on the 4-day trading of Mean of Platts Singapore, the pricing basis for refined goods in Southeast Asia. This week, diesel prices increased by P2.66 per liter, while gasoline prices were up by P2.21 per liter. Going EV Citing consistently high fuel prices, Sen. Sherwin Gatchalian has urged the Social Security System (SSS) and the Government Service Insurance System (GSIS) to provide loan programs that would allow members to purchase electric vehicles (EVs), especially since the country is dependent on imported fossil fuel. Gatchalian said extending affordable financing options for EV purchases would help accelerate the country’s transition toward cleaner, more sustainable transportation alternatives, while easing the financial burden on Filipino motorists. “Many people want to buy an EV, but are deterred by its high price. If there are loan facilities for the purchase of EVs, it will help our countrymen who are already struggling due to the continuous increase in the price of gasoline and diesel,” the senator said in Filipino. The lawmaker has been advocating for a faster shift to electric mobility amid volatile global fuel prices, emphasizing that potential savings from reduced fuel consumption could help vehicle owners offset monthly loan amortizations. Gatchalian also stressed the need for wider deployment of EV infrastructure, particularly charging stations, to encourage both private consumers and organizations to transition to electric-powered transportation. He added that the government should intensify efforts to modernize public transportation by accelerating the shift of public utility vehicles (PUVs) to electric vehicles under the country’s PUV modernization program. According to Gatchalian, transitioning PUVs to EVs would help protect drivers and operators from recurring fuel price hikes, thereby contributing to lower transportation costs in the long term. The senator has consistently supported policies that promote energy security and sustainable transport solutions, as the Philippines continues to grapple with fluctuating global oil prices and growing concerns over environmental sustainability.
Go to News Site