Motorists queue for fuel at a gas station in Pasig City on Oct.10, 2022. Mark Demayo, ABS-CBN News/File 

FUEL PRICE HIKE

ABS-CBN News

<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/171833082984620221010-oil-price-hike-MD--9.jpg" style="width:900px" class="fr-fic fr-dib"/><span id="isPasted" style="color:rgb(51, 51, 51);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:pre-wrap;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">Motorists queue for fuel at a gas station in Pasig City on Oct.10, 2022. Mark Demayo, ABS-CBN News/File  </div>MANILA -- After falling <a href="https://news.abs-cbn.com/business/2024/6/10/oil-prices-fall-in-2nd-week-of-june-949" rel="noopener noreferrer" target="_blank">a day before Independence Day</a>, oil prices may climb again next week, the Department of Energy (DOE) said Friday. According to the DOE, pump prices may rise by the following amounts:<ul><li>Gasoline - P0.60/L to P0.85/L</li><li>Diesel - P1.45/L to P1.70/L</li><li>Kerosene - P1.85/L to 1.90/L</li><li> </li><li><iframe width="1100" height="619" src="https://www.youtube.com/embed/E__f5QxO4fs" title="Oil price hike possible next week | Teleradyo Serbisyo (14 June 2024)" frameBorder="0" allowfullscreen=""></iframe></li></ul><div> </div>Higher demand forecasts from the United States and Organization of Petroleum-Exporting Countries are driving prices up.The DOE said a sharper than expected drop in US crude inventories, uncertainties over the timing of the US Fed Reserves on the interest rate cut, the reduced Saudi exports to China and potential US reserve purchases may also send prices higher.

Big-time oil price hike looms in third week of June | ABS-CBN

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Big-time oil price hike looms in third week of June

Big-time oil price hike looms in third week of June

ABS-CBN News

Published Jun 14, 2024 10:11 AM PHT

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Updated Jun 14, 2024 12:08 PM PHT

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