Big time oil price hike seen next week

Ched Rick Gatchalian

ABS-CBN News

<p>MANILA — Motorists are advised to brace for possible &quot;big time&quot; oil price hike next week, <a href="https://news.abs-cbn.com/business/2024/11/8/dmci-net-income-down-from-january-to-september-1151"></a><span data-darkreader-inline-color="" id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;float:none;display:inline !important;--darkreader-inline-color:#e8e6e3"><a href="https://news.abs-cbn.com/business/2024/11/8/dmci-net-income-down-from-january-to-september-1151">due to a weaker peso and the beginning of hurricane season</a></span><span data-darkreader-inline-color="" id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;float:none;display:inline !important;--darkreader-inline-color:#e8e6e3"> in the US, according to the Department of Energy.</span></p><div><span id="isPasted">The following price hikes are expected next week.</span></div><div><span>• Diesel - P1.90/L - P2.10/L</span></div><div><span>• Gasoline - P1.20/L - P1.50/L</span></div><div><span>• Kerosene - P1.00 - P1.20/L</span></div><div><span>Analysts say US oil facilities in the Gulf of Mexico are being affected by the hurricane season. </span></div><div><span data-darkreader-inline-bgcolor="" data-darkreader-inline-color="" id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;float:none;display:inline !important;--darkreader-inline-color:#e8e6e3;--darkreader-inline-bgcolor:#181a1b">The Organization of Petroleum Exporting Countries (OPEC) meantime had delayed its scheduled production increase, while <span data-darkreader-inline-bgcolor="" data-darkreader-inline-color="" id="isPasted" style="color:rgb(0, 0, 0);letter-spacing:normal;orphans:2;text-align:start;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;float:none;display:inline !important;--darkreader-inline-color:#e8e6e3;--darkreader-inline-bgcolor:#181a1b">US Federal Reserve</span> is setting an interest rate cut to address inflation.</span></div>

<p>Motorists are advised to brace for possible "big time" oil price hike next week, due to a weaker peso and the beginning of hurricane season in the US, according to the Department of Energy.</p>

Motorists are advised to brace for possible "big time" oil price hike next week, due to a weaker peso and the beginning of hurricane season in the US, according to the Department of Energy.

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'Big time' oil price hike seen next week

'Big time' oil price hike seen next week

Ched Rick Gatchalian,

ABS-CBN News

Published Nov 09, 2024 04:11 PM PHT

Read More:

Peso depreciation

Hurricanes

OPEC

Fuel price hike

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