Biggest gasoline price hike so far in 2024 expected on Tuesday

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Biggest gasoline price hike so far in 2024 expected on Tuesday

ABS-CBN News

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MANILA — Motorists will again have to brace for another hike in oil prices, the third straight, in what the Department of Energy earlier described as the biggest yet for this year.

Gasoline prices will increase by P2.50 to P2.80 per liter.

Meanwhile, diesel prices will increase by P1 to P1.30 per liter.

Kerosene prices will take the smallest hike at P0.40 to P0.60 per liter.

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DOE Director Rodela Romero earlier said this may be due to the lowering of US crude stock amid high demand and the Chinese central bank's release of a stimulus package for economic recovery, which is also demand-related.

— With a report by Alvin Elchico, ABS-CBN News

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