Pump prices expected to rise by more than P1 in wave of hikes | ABS-CBN
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Pump prices expected to rise by more than P1 in wave of hikes
ABS-CBN News
Published Oct 21, 2023 11:58 AM PHT
MANILA -- Oil prices are expected to rise by more than P1 per liter across all petroleum products next week, estimates show.
MANILA -- Oil prices are expected to rise by more than P1 per liter across all petroleum products next week, estimates show.
Diesel will increase by P1.20 to P1.50 per liter, while kerosene will increase by P1.20 to P1.40 per liter.
Diesel will increase by P1.20 to P1.50 per liter, while kerosene will increase by P1.20 to P1.40 per liter.
Meanwhile, gasoline prices will rise by P0.90 to P1.10 per liter.
Meanwhile, gasoline prices will rise by P0.90 to P1.10 per liter.
This matches the DOE's prediction based on the first 4 days of trading on the Mean of Platts Singapore.
This matches the DOE's prediction based on the first 4 days of trading on the Mean of Platts Singapore.
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Rodela Romero, Director 3 of the DOE Oil Industry Management Bureau, earlier said this could be attributed to a drop in US crude stockpile as well as Iran's call on members of the Organization of Islamic Cooperation (OIC) to impose an oil embargo and other sanctions on Israel.
Rodela Romero, Director 3 of the DOE Oil Industry Management Bureau, earlier said this could be attributed to a drop in US crude stockpile as well as Iran's call on members of the Organization of Islamic Cooperation (OIC) to impose an oil embargo and other sanctions on Israel.
-- With a report by Alvin Elchico, ABS-CBN News
-- With a report by Alvin Elchico, ABS-CBN News
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