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

Alvin Elchico

ABS-CBN News

<div><span dir="ltr" id="isPasted"></span></div><p>MANILA — Another round of hefty oil price hikes will strike on Tuesday due to higher fuel prices in the world market, fuel firms announced on Monday. </p><p>Oil firms have announced the following upward price adjustments:<br/>Diesel      P1.75/L<br/>Gasoline P1.40/L<br/>Kerosene P1.05/L</p><p>According to Department of Energy Assistant Director Rodela Romero, the main reason for the second price increase in as many weeks is still the uncertainty of peace in the Middle East between Hamas and Israel and Israel and Lebanon&#x27;s Hezbollah. </p><p>Coupled with the projection of an oil supply deficit and reduced oil inventory in the US, imported oil prices soared last week, which is reflected in the pumps in the Philippines this week. </p><p>For two consecutive weeks, diesel will be P3.50/L higher starting Tuesday while gasoline prices rose by over P2/L in the last 2 weeks. </p><p>Based on DOE&#x27;s monitoring, the cheapest diesel is at P51.90/L in a Rephil branch in Fairview while the cheapest gasoline (95 octane) is at P54.60/L also in the same Rephil station. </p><p>However, the most expensive fuels are way higher than the cheapest. </p><p>The most expensive diesel is at Total Tambo in Paranaque at P68.50/L while the most expensive is at Total Newport at P80.35/L. </p><p>The price difference ranges from P16-P25/L for both diesel and gasoline. </p><div><strong>REDUCED BILLS ARRIVE</strong> </div><p>Meanwhile, after the delay, Meralco bills have arrived and many consumers are happy to see that their June billing has indeed gone down. </p><p>This, after the Energy Regulatory Commission ordered to stagger the payment for electricity bought in the spot market. </p><p>For Meralco, that translated to an almost P2/kwh reduction for the June billing. </p><p>Consumer Diane Francisco is glad to see a P400 reduction in her bill after a series of increases but she is worried about the expected upward adjustment for the coming months. </p><p>The same is true for Aljane Piedad who enjoyed a P500 reduction in her June billing.</p><div><a class="fr-green fr-strong" href="https://news.abs-cbn.com/business/2024/6/17/singil-sa-kuryente-ng-meralco-power-coops-bababa-sa-hunyo-1806" id="isPasted">Singil sa kuryente ng Meralco, power coops bababa sa Hunyo</a> </div><p>Meralco had earlier warned consumers to brace for potential spikes in the July to September billings as the staggered increases will be included in these months. </p><p>Based on Meralco&#x27;s computation, there is already an add-on of P0.77/kwh in the June-Sept billing to cover the staggered increase from the June billing.</p><div><a class="fr-green fr-strong" href="https://news.abs-cbn.com/business/2024/6/21/meralco-opens-bidding-for-400mw-power-supply-1004" id="isPasted">Meralco opens bidding for 400MW power supply</a></div><div><br/></div><div><br/></div>

<p>Another round of hefty oil price hikes will strike on Tuesday due to higher fuel prices in the world market, fuel firms announced on Monday.</p>

Another round of hefty oil price hikes will strike on Tuesday due to higher fuel prices in the world market, fuel firms announced on Monday.

Hefty oil price hike set for Tuesday, June 25 | ABS-CBN

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Hefty oil price hike set for Tuesday, June 25

Hefty oil price hike set for Tuesday, June 25

Alvin Elchico,

ABS-CBN News

Published Jun 24, 2024 02:49 PM PHT

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electricity

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