Slight mixed movement in fuel prices seen next week
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Slight mixed movement in fuel prices seen next week
MANILA — Motorists will likely enter November's first week paying slightly less for gasoline and more for diesel and kerosene.
MANILA — Motorists will likely enter November's first week paying slightly less for gasoline and more for diesel and kerosene.
According to Department of Energy (DOE) Oil Industry Management Bureau, the expected changes in the oil prices next week are the following:
According to Department of Energy (DOE) Oil Industry Management Bureau, the expected changes in the oil prices next week are the following:
Gasoline: P0.10/L to P0.30/L decrease
Gasoline: P0.10/L to P0.30/L decrease
Diesel: P0.50/L to P0.75/L increase
Diesel: P0.50/L to P0.75/L increase
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Kerosene: P0.40/L to P0.50/L increase
Kerosene: P0.40/L to P0.50/L increase
The DOE-OIMB associated the mixed oil price movements to tightness of supply of diesel, kerosene, and jet fuel in Asia.
The DOE-OIMB associated the mixed oil price movements to tightness of supply of diesel, kerosene, and jet fuel in Asia.
In addition, the increasing fuel demand in the United States and continuing tensions in the Middle East are still driving the prices upwards.
In addition, the increasing fuel demand in the United States and continuing tensions in the Middle East are still driving the prices upwards.
The final price adjustments will be announced Monday and take effect on Tuesday.
The final price adjustments will be announced Monday and take effect on Tuesday.
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