PUV drivers feel pinch of oil price hike

With their source of living mainly dependent on fuel, public utility vehicle (PUV) drivers are mostly feeling the brunt of the almost P7 increase in petroleum products Tuesday.

According to Joseph Morong’s report on “24 Oras,” many drivers could no longer afford to fill up their gas tank as money comes only after every trip they make.

Robert Erom, who drives a jeepney, said he was earning around P500 a day last week.  But with the new round of diesel price increase, he said his earnings a day could be reduced to P300.

Taxi driver Lawrence Luz showed his earnings of P700 after almost 24 hours of driving.  His gas gauge, however, is already flashing red indicating an almost empty tank.

He said he would spend P500 to gas up and keep the remaining P200 for food.

PUV drivers in Isabela and Zamboanga also lamented that their take-home pay is being eaten up by the high price of fuel.

The recent round of increase has revived calls by transport group Pinagkaisang Samahan ng mga Tsuper at Opereytor Nationwide (PISTON) to suspend the excise tax on oil.

“Pag nawala yung excise tax sa langis, automatic P6 yung babalik na kita sa bawat litro sa mga driver at epekto nyan yung pagbaba ng mga bilihin,” said Mody Floranda, PISTON president.

Meanwhile, the Department of Energy (DOE) said the demand for petroleum in the international market has decreased. There is also an oversupply of one million to 1.5 million barrels of crude oil.

However, due to oil producing countries' announcement that they will reduce production, director Rino Abad of the Oil Industry Management Bureau said,  “may pangamba na ngayon. Alam mo naman ang market na isang araw lang, pumapalo ang price ng walang kadahilanan, November pa nga ito gagawin pero nangyayari na."

As of October 10, gasoline costs $94.38 per barrel while diesel costs $144 per barrel.

Since winter is approaching in other countries, this will increase the demand for crude oil. The prices of petroleum products are also expected to increase further.

“We will expecting until ma-prove ng market come November, kung talaga bang pronouncement lang yan or talagang actual deduction talaga yan sa actual production nila," Abad added.—Sherylin Untalan/LDF, GMA News