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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

Article (news)

FUEL PRICE HIKE

Alvin Elchico

ABS-CBN News

<p>MANILA -- Another round of oil price hike looms in the first week of August as imported fuel prices continue to be soar in the world market.</p><p>Jetti Petroleum president Leo Bellas said after the first 3 trading days, gasoline prices were up by P0.41 per liter, diesel by P0.13/L and kerosene by P0.02/L.</p><p>Bellas said he sees a minimal price increase next week, lower than the hike in the last week of June.</p><div><a href="https://news.abs-cbn.com/business/2024/6/24/hefty-oil-price-hike-set-for-tuesday-1417">Hefty oil price hike set for Tuesday, June 25</a></div><p>According to Bellas, the main factor for next week&#x27;s potential price increase is still the Middle East conflict between Israel and its nemesis Hamas and Hezbollah of Lebanon.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/dYVKf8FiELA?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><div><strong>LPG PRICES UP TOO? </strong></div><p>LPG prices are likely to remain the same or see a slight increase of about P0.50/kilo on July 1, Monday.</p><p>Regasco president Arnel Ty said the main reason for the price uptick is also the Middle East conflict causing worries in the market due to possible supply disruptions.</p><div><strong>DILAPIDATED LPG TANKS</strong></div><p>Ty, who is also the president of LPG Marketers Association, reminded consumers to exchange dilapidated LPG cylinders for new ones as the deadline for confiscation of substandard tanks nears.</p><p>Under the law, dilapidated and unsafe tanks should be confiscated by October this year, 3 years from the effectivity of the LPG Industry Regulations Act.</p><p>Dilapidated or substandard LPG tanks include those with no visible brand and permanent marking and are full of rust.</p><p>Ty said a consumer can exchange these tanks at their nearest dealer at no cost.</p><p>The LPGMA reminded consumers that substandard cylinders pose safety concerns for consumers such as leaking and other accidents. </p><div><br/></div><div><br/></div>

<p>Another round of oil price hike looms next week as imported fuel prices continue to be soar in the world market.</p>

Another round of oil price hike looms next week as imported fuel prices continue to be soar in the world market.

Stakeholder sees another round of fuel price hike next week

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Stakeholder sees another round of fuel price hike next week

Alvin Elchico,

ABS-CBN News

Published June 27, 2024 02:37 PM PHT

Read More:

gas prices

gasoline

LPG

diesel

kerosene

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