Archive for the ‘oil pump prices’ Category:
Philippine Oil Pump Price Bulletin 18 – August 5, 2009
Philippine Oil Pump Price Bulletin 18 – August 5, 2009
“Oil firms raise gas, diesel prices by P1 per liter” is the title of Philippine Star Wednesday’s issue of 5 August 2009 written by Mr. Ted Torres.
Philipinas Shell, Petron Corp., Chevron/Caltex Phils. and Phoenix Petroleum Phils. have increased the pump prices of gasoline and diesel by P1.00 per liter while the price of kerosene was hiked by P0.50 per liter. The price adjustment took effect at midnight.Oil companies cited the need “to reflect movements in international oil prices and reflect local market competition.” Unioil increased the price of diesel by P1.40 per liter last Saturday. “This is the first time that Unioil will have a price increase as response to the P2.00 increase by competition implemented last week”, Unioil said. As you recall, Total Philippines Corp. and Petro Corp increased pump prices by P2.00 per liter for gasoline, diesel and kerosene last week. More »
Philippine Oil Pump Price Bulletin 17 – July 29, 2009
Philippine Oil Pump Price Bulletin 17 – July 29, 2009
“Total, Petron hike oil prices” is the title of Philippine Star Monday’s issue of 29 July 2009 written by Mr. Ted Torres.
Total Philippines Corp. and Petro Corp also increased pump prices by P2.00 per liter for gasone, diesel and kerosene yesterday. The two oil companies joined Pilipinas Shell Petroleum, Chevron (Caltex) Philippines and SeaOil, which earlier announce a hike in their pump prices. Total and Petron said that the price hike reflected increasing regional and global oil prices as well as increases in production costs. More »
Philippine Oil Pump Price Bulletin 16 – July 20, 2009
Philippine Oil Pump Price Bulletin 16 – July 20, 2009
“Oil companies cut diesel, gas prices” is the title of Philippine Star Monday’s issue of 20 July 2009 written by Ms. Donnabelle Gatdula.
Oil companies Pilipinas Shell, Petron and SeaOil are reducing diesel and gasoline prices by P0.50 and P0.25 per liter, respectively, effective today. Other oil companies are also expected to follow the price adjustments to remain competitive. More »
Philippine Oil Pump Price Bulletin 15 – July 11, 2009
“Gas prices cut by P1.50” is the title of Saturday’s issue of 11 July 2009.
Only last Monday, they increased gasoline prices by P0.50 per liter, but reduced diesel and kerosene prices by P0.50 per liter. Crude refiner Pilipinas Shell and product importers Phoenix Petroleum and SeaOil initiated the price reduction. As of press time, the other oil companies have yet to follow the price cut. Shell spokesman Roberto Kanapi announced last Thursday that they anticipated a price rollback due to continuing drop in petroleum prices. More »
Philippine Oil Pump Price Bulletin 14 – July 7, 2009
Philippine Oil Pump Price Bulletin 14 – July 7, 2009
“Gas prices go up, diesel down” is the title of Tuesday’s issue of 7 July 2009.
Oil major Pilipinas Shell and oil minor SeaOil are increasing today the prices of their gasoline by P0.50 per liter effective today. But Shell and SeaOil announce that prices of diesel and kerosens would go down by P0.50 per liter also today. Shell officieals said the recent price adjustments were consistend with the movements of world crude prices. Other oil companies have yet to announce their respective adjustments as of press time. More »
Philippine Oil Pump Price Bulletin 13 – 27 June 2009
Philippine Oil Pump Price Bulletin 13 – 27 June 2009
“LPG Price up by P3/kg” is the title of Saturday’s issue of 27 June 2009.
The price of liquefied petroleum gas (LPG) or cooking gas will increase by P3 per kilo or P33 per 11-kg cylinder effective today. This developed as the Department of Energy (DOE) said that based on price tends, there might be a price reduction on pump prices of gasoline and diesel next week. DOE Oil Industry Monitoring Bureau (OIMB) director Zenaida Monsada said based on DOE monitoring, they expect a possible rollback of P1 per liter for diesel and gasoline. More »
Philippine Oil Pump Price Bulletin 12 – 23 June 2009
Philippine Oil Pump Price Bulletin 12 – 23 June 2009
“Oil firms raise prices anew” is the title of Tuesday’s issue of 23 June 2009.
Oil major Shell and Petron and small players Total and Eastern Petroleum are increasing their gasoline and diesel prices by P0.50 per liter effective today. Last week, the oil companies also raised their gasoline prices by P0.50 while diesel and kerosene prices were raised by P1.00 per liter. They attributed the continuing rise in prices of petroleum products to their increases abroad. Shell, Petron and Total would also increase its kerosene price by P0.75 per liter while Petron has raised its LPG retail price to P507 per 11 kg cylinder. More »
Philippine Oil Pump Price Bulletin 11 – 12 June 2009
Philippine Oil Pump Price Bulletin 11 – 12 June 2009 news flash
“Shell, Flying V” is the title of today’s Thursday issue of 11 June 2009. Oil major Shell and small player Flying V are increasing their gasoline prices by P0.50 per liter and diesel prices by P1.00 per liter effective today, Thursday. Last Sunday, the oil companies also raised their gasoline prices by P1.00 while diesel and kerosene prices were raised by P1.50 per liter. More »
Philippine Oil Pump Price Bulletin 10a – 9 June 2009 news flash
Philippine Oil Pump Price Bulletin 10a – 9 June 2009 news flash
“3 oil firms raise prices” is the title of today’s Sunday issue of 7 June 2009.
Oil major Shell and small player Total are increasing their gasoline prices by P1.00 per liter and diesel and kerosene prices by P1.50 per liter effective today, Sunday. Except for its kerosene, small player Seaoil said it is also raising its gas and diesel prices today by the same P1.00 and P1.50 for gasoline and diesel, respectively. Shell Vice President for Communications, Mr. Bobby Kanapi, said the price increases reflected higher product costs in the world market. Last Tuesday, most oil companies raised their gasoline prices by P0.50 per liter and diesel prices P0.75 per liter. More »
Philippine Oil Pump Price Bulletin 9 – 3 June 2009
Philippine Oil Pump Price Bulletin 9 – 3 June 2009
In yesterday’s Philippine Star article “Gas, LPG prices up” dated 2 June 2009, it was reported that oil major Shell will increase pump prices by P0.50 per liter of gasoline and P0.75 per liter of diesel effective today due to rising prices of crude oil and oil products in the international market. Also, the price of liquefied petroleum gas (LPG) or cooking gas increased by P1.50 per kg or P16.50 per 11-kg LPG tank due also to the rise in the international contract prices. According to Arnel Ty, the President of the LPG Marketers Association of the Philippines (LPGMA), the latest LPG hike would form part of the total P2.50 per kg increase that their group will implement. More »
Philippine Oil Pump Price Bulletin 8 – 26 May 2009
Philippine Oil Pump Price Bulletin 8 – 26 May 2009
In today’s Philippine Star dated 26 May 2009, it was reported that oil major Shell and oil minor Total will increase gasoline and diesel pump prices by P1.00 per liter effective today due to rising prices of crude oil and oil products in the international market.
As of May 18 Philippine Department of Energy (DOE) monitoring, the month-to-date average of benchmark Dubai crude oil used by crude oil refiners (Petron and Shell) increased by $6/bbl. Similarly, the Mean of Platts Singapore (MOPS) used by oil importers (e.g. oil major Chevron/Caltex and other oil minors) of gasoline moved higher by $5/bbl while diesel moved higher by $4/bbl. More »
How to Calculate Petroleum Pump Prices – two methods presented
How to Calculate Petroleum Pump Prices – two methods presented
In order to promote transparency in the pricing of petroleum and other oil products, your favorite energy technology expert would like to share his insights and experience over the years in oil and energy pricing in general. As a first step, the author Engineer Marcial T. Ocampo, will present two methods for estimating pump prices. As you recall, our very own National Economic Development Authority (NEDA) Secretary opined that Philippine oil pump prices are P8/liter more than what they should be. The Secretary, however, did not provide sufficient details to verify his calculations. More »
Philippine Oil Pump Price Bulletin 7 – 20 May 2009
Philippine Oil Pump Price Bulletin 7 – 20 May 2009
In today’s Philippine Star dated 19 May 2009, it was reported that oil major Shell and oil minor Total will increase gasoline pump price by P1.50 per liter effective today due to rising prices of crude oil and oil products in the international market. Diesel and kerosene prices will likewise be increased by P0.50 per liter.
Based on Philippine Department of Energy (DOE) monitoring report, the month-to-date average of benchmark Dubai crude oil used by crude oil refiners (Petron and Shell) increased by $5/bbl. Similarly, the Mean of Platts Singapore (MOPS) used by oil importers (e.g. oil major Chevron/Caltex and other oil minors) of gasoline and diesel moved higher by $4/bbl in the first week of May. More »
Philippine Oil Pump Price Bulletin 6 – 12 May 2009
Philippine Oil Pump Price Bulletin 6 – 12 May 2009
In today’s Philippine Star dated 12 May 2009, it was reported that oil major Petron and oil minors Total, SeaOil and PTT will increase gasoline and diesel oil pump prices by P1.50 per liter effective today due to rising prices of crude oil and oil products in the international market.
The Philippine Department of Energy (DOE) monitoring reported that as of May 8, the benchmark price of gasoline in Singapore (Mean of Platts Singapore) rose by $4/bbl from April’s average of $60.74/bbl to $64.74/bbl. Similarly, the benchmark price of diesel (MOPS) increased by the same $4/bbl from April’s average of $60.08/bbl to $64.08/bbl. On the other hand, the benchmark price of Dubai crude oil that is used by crude oil refiners Petron and Shell rose from April’s average of $50.10/bbl to $55/bbl. More »
Philippine Oil Pump Price Bulletin 5 – 05 May 2009
Philippine Oil Pump Price Bulletin 5 – 05 May 2009
The world just witnessed one of the best boxing fights with the greatest Philippine boxer Manny Pacquiao defeating the greatest British boxer Ricky Hatton in Round 2. Both trained hard and gave it all, but in the end, only the best became victorious. Their dedicated pursuit of their dreams surely serves as an inspiration to all peoples of mankind – make your own dreams, pursue it relentlessly, train hard for it, and in the end, leave everything to your God to decide which the best man to win. I guess no one lost – but rather everyone gained a valuable lesson. As they said, success only comes to those willing to make sacrifices.
Once again the world was gifted with another price roll back by the oil majors and minor players. In today’s 5 May 2009 Philippine Star, Shell, Caltex and SeaOil announced a P1.50/liter rollback for gasoline, P0.25/liter for diesel, P0.25/liter for kerosene and P0.40/kg for LPG effective 12:01 pm. On the other hand, Petron and Total announced a similar reduction for gasoline, diesel and kerosene of P1.50, P0.25, P0.25 per liter, respectively, effective 6:00am. However, Petron and Total announced a smaller reduction of P0.25/kg for LPG.
NEWS FLASH AS OF 7:19PM MANILA TIME: Petron and Total announced a P0.40/kg reduction of LPG to match that of Shell, Caltex and SeaOil. More »
A Survey on Oil Pump Prices – Philippine Oil Pump Price Bulletin 4 – 01 May 1, 2009
A Survey on Oil Pump Prices – Philippine Oil Pump Price Bulletin 4 – 01 May 1, 2009
This time, I am still holding my breath because of the fast pace of changes in the international crude oil and product posted prices and its immediate impact on domestic prices of oil products. One week, its gone up, only to be followed by a price reduction the next week as the prices of crude oil and products move in unison with changes in the Philippine peso with the US dollar.
NEDA Secretary Says Domestic Pump Price is Over-priced by P8/Liter (??) More »
Philippine Oil Pump Price Bulletin 3: 22 April 2009
Philippine Oil Pump Price Bulletin 3 : 22 April 2009
This is the 3rd issue of this weekly oil pump price bulletin. It is being issued to provide pricing forecast for low sulfur diesel LSD (0.05% Sulfur) and unleaded gasoline 93 RON. Please refer to the previous Bulletin 1 dated 15 April 2009 for 93 RON and Bulletin 2 dated 17 April 2009 for the pump price of LSD.
This bulletin predicted a similar upward price adjustment in unleaded 93 RON gasoline of 0.6710 PhP/liter which is similar to the 0.50 PhP/liter upward adjustment announced by Shell and Petron this day of 22 April 2009. For low sulfur diesel (0.05% sulfur), a very small downward adjustment of 0.0894 PhP/liter was predicted by this bulletin. This approximates the announcement that no adjustments will be made on diesel.
Basic Information (from Philippine Star, 22 April 2009)
Exchange Rate = 48.46 PhP/$ (April 22) vs 47.66 PhP/$ (April 15)
1 US gallon = 3.7854 liters
1 barrel of oil = 42 US gallons = 42 * 3.7854 = 158.9868 liters
Dubai Crude = 49.27 $/bbl (April 14, 2009 – Philippine Star)
Singapore Posted Price, $ per barrel:
Diesel = $62.08 (April 10-21 ave) vs $62.32 (April 6-9 ave)
Mogas = $63.74 (April 10-21 ave) vs $62.09 (April 6-9 ave)
Example for Unleaded 93 RON Gasoline:
To reflect production cost, a factor of 1.134 to 1.176 is applied on crude cost. However, the reader is advised to use actual posted price.
Philippine Oil Pump Price Bulletin 2 : 17 April 2009
Philippine Oil Pump Price Bulletin 2 : 17 April 2009
This is the 2nd issue of this weekly oil pump price bulletin. It is being issued to provide pricing forecast for unleaded 93 RON gasoline. Please refer to the previous Bulletin 1 dated 15 April 2009 for the pump price of LSD (low sulfur diesel).
Basic Information
Exchange Rate = 47.66 PhP/$ (April 15, 2009 – Philippine Star)
1 US gallon = 3.7854 liters
1 barrel of oil = 42 US gallons = 42 * 3.7854 = 158.9868 liters
Dubai Crude = 49.27 $/bbl (April 14, 2009 – Philippine Star)
Example for Unleaded 93 RON Gasoline:
To reflect production cost, a factor of 1.134 to 1.176 is applied on crude cost. However, the reader is advised to use actual posted price (e.g. MOPS).
Philippine Oil Pump Price Bulletin 1 : 15 April 2009
Philippine Oil Pump Price Bulletin 1 : April 15, 2009
Introduction
The worldwide phenomenon of frequent rise and fall of the international price of crude oil and its roller-coaster effect on the domestic price of petroleum products have brought about the need for a transparent and predictable price adjustment mechanism in order to protect the overall interest of the consuming public, petroleum dealers, oil refiners, importers and marketers of oil-based products.
During period of supply and price stability, the international price of crude oil and finished products is fully reflected in domestic pump prices with all the participants in the supply chain (importers, insurers, refiners, marketers, shippers, haulers and dealers) receiving their fair share of logistics costs and margins, and the government likewise receiving mandated customs duties, specific taxes, wharfage fee, BOE fee, value added tax (VAT) on imported oil and added services.
However during extra-ordinary events such as supply restraints by OPEC, conflicts and tensions in the Middle East and major oil suppliers, speculations in oil futures and commodity exchanges, steep currency depreciation, and stringent environmental requirements, the international price of crude oil and petroleum products suddenly rise and consequently the oil majors and minor industry players naturally raise prices to reflect the cost of new deliveries to replenish working capital, albeit moderated somewhat by stocks bought at previously lower prices and market competition.
Problem of Price Adjustments
Consequently, the problem arise when the international price of crude oil and petroleum products drop significantly following an oil price “spike”. End consumers and lobby groups naturally demand for significant one-time oil price adjustment to fully reflect the drop in the international price of crude oil and petroleum products.
The oil company and minor players are accused of dilly dallying price reductions in contrast with their speedy upward price adjustments. This observation is indeed unfortunate but very popular but a careful analysis reveals that in the same manner that prices were adjusted upwards gradually below international prices, the converse is likewise true that prices are adjusted downwards gradually but higher than international prices in order that upfront under-recoveries are liquidated via delayed over-recoveries.
Hence, the main determinant of equality is for the average international price to be reflected in the average domestic pump price for a defined period, after fully reflecting all the cost factors to bring the product to our country’s shores and after reasonable margin for the upkeep of the oil companies. In this way, there is neither under-recovery nor over-recovery on the part of the oil companies.
Objective of the Philippine Oil Pump Price Bulletin weekly service
The primary objective of this Philippine Oil Pump Price Bulletin is to provide weekly pump price updates given the prevailing past week average or start of the week Peso per US$ exchange rate, Dubai Crude marker $ per barrel, prevailing average petroleum product prices in Singapore, currently in force customs duties, specific taxes, value added tax on oil import, and other supply chain costs such as insurance, freight, oil company margin, dealer’s margin, transshipment & hauling and local value added tax.
Energy Technology Expert – my expertise and services
Where to Get Assistance for Energy & Electricity Investment Opportunities in the Philippines
Marcial Ocampo provides a blog on issues and concerns regarding current and future fuel cycles and power generation technologies as they affect the environment, fuel supplies and power generation capacities, efficiency of utilization of fuel or energy resource, pollution & greenhouse gas emissions, and cost of power (overnight capital cost $/kW) and energy (levelized $/kWh).
He provides market, technical and economic feasibility studies and prepares project finance models for determining asset value (bid price), levelized price of energy or electricity, or equity returns (DCF IRR).
He is also familiar with investment opportunities in the Philippine energy and electricity sector (Philippine Energy Plan, Power Development Plan) and the regulatory framework (EPIRA and RE laws, implementing rules and regulations, Distribution Code, Grid Code) for purchasing a power plant from PSALM/NPC or for putting up a new power plant (conventional, fossil or renewable).
He can guide you in securing incentives under the latest Philippine Renewable Energy (RE) law and its implementing rules and regulations (IRR).
In addition, he could guide you in securing the needed endorsement from the Philippine Department of Energy (DOE), permits and licenses from the Energy Regulatory Commission (ERC) and other government agencies (DTI, SEC, BIR, DENR, EMB, NWRB, PNRI, DOLE, NTC, BOC, PPA, ATO, PDEA, BOI, NCIP and LGUs) in order that the facility is duly licensed to operate as a power generation facility with an electricity tariff that is the “best new entrant” for the given location and application in order to balance the need of the customers for affordable electricity and the need of the investor to meet its investment return criteria.
Should you need assistance in preparing a project finance model and a feasibility study (market, technical, economic, financial) using Philippine oil, energy and electricity data, please don’t hesitate to contact Marcial.
email: mars_ocampo@yahoo.com and energydataexpert@gmail.com
tel/fax: (632)-932-5530 More »
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