Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Mark Demayo, ABS-CBN News/File

Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Diesel prices is forecast to increase by P6 to P6.85 per liter, gasoline prices at P1.20 to P1.40 per liter, and kerosene prices by P3.50 to P3.70 per liter. Mark Demayo, ABS-CBN News

FUEL PRICE HIKE

ABS-CBN News

<p>MANILA — Diesel and kerosene prices are expected to rise by almost P2 after the long weekend, estimates show. </p><p>Diesel prices will increase by P1.60 per liter, while kerosene prices will increase by P1.80 to P1.90 per liter. </p><p>Meanwhile, gasoline prices take the smallest increase at P0.70 to P0.90 per liter. </p><p>Higher demand forecasts from the United States and Organization of Petroleum-Exporting Countries are driving prices up, according to authorities.</p><p>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.</p><div><strong>RELATED VIDEO</strong></div><div><ivs-player data-ivs-key="e8c22c015ca9eafa76f1e3edfa03c603" data-ivs-spid="3001339" data-ivs-vid="2959969"></ivs-player></div><script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/loader.js"></script>

<p>Motorists will have to brace for a huge price increase for diesel and kerosene after the long weekend. </p>

Motorists will have to brace for a huge price increase for diesel and kerosene after the long weekend.

Diesel, kerosene prices to increase almost P2 on Tuesday | ABS-CBN

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Diesel, kerosene prices to increase almost P2 on Tuesday

Diesel, kerosene prices to increase almost P2 on Tuesday

ABS-CBN News

Published Jun 15, 2024 01:00 PM PHT

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