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><span class="fr-img-caption fr-fic fr-dib" style="width:900px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/171954060811220221010-oil-price-hike-MD--15.jpg" style="width:900px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left"><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</span> </span></span></span></div><div><br/></div><p>MANILA -- Pump prices may climb by less than P1 in the first week of July, the Department of Energy (DOE) said Friday. </p><p>This will be the third straight week of oil price hikes. </p><div><a href="https://news.abs-cbn.com/business/2024/6/22/second-straight-hike-of-more-than-p1-set-for-june-25-1210">Second straight hike of more than P1 set for June 25</a><br/><a href="https://news.abs-cbn.com/business/2024/6/17/big-time-price-hike-kerosene-up-by-p1-90-per-liter-diesel-by-p-175-940">Big-time price hike: Kerosene up by P1.90 per liter, diesel by P1.75</a></div><p>The DOE said oil prices could increase by the following amounts:</p><p>Gasoline - P0.50 to P0.80/L<br/>Diesel - P0.30 to P0.60/L<br/>Kerosene - P0.20 to P0.40/L</p><p>The energy department said this is because crude oil futures went up after Ukraine&#x27;s drone attack hit Russian refineries.</p><p>The attack could mean worsening geopolitical tensions that may threaten global oil supply, the DOE said. </p><p>The Organization of Petroleum-Exporting Countries&#x27; (OPEC) production and restriction--as well as the expected demand when summer peaks in the United States--are also driving prices up, the DOE said.</p><div><a href="https://news.abs-cbn.com/business/2024/6/27/stakeholder-sees-another-round-of-fuel-price-hike-next-week-1337">Stakeholder sees another round of fuel price hike next week</a></div><div><br/></div><div><strong>RELATED STORY:</strong></div><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/7AuUY6N8kBU?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>Pump prices may climb by less than P1 in the first week of July, the Department of Energy (DOE) said Friday.</p>

Pump prices may climb by less than P1 in the first week of July, the Department of Energy (DOE) said Friday.

Petroleum prices may climb in first week of July: DOE | ABS-CBN

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Petroleum prices may climb in first week of July: DOE

Petroleum prices may climb in first week of July: DOE

ABS-CBN News

Published Jun 28, 2024 10:24 AM PHT

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