Bigtime fuel price hike in the offing

Defining the News

The Department of Energy warned of a big time oil price hike of as much a P1.90 per liter next week due to the movement of prices in the world oil market.

“We will be expecting an increase in the domestic pump prices of petroleum products by Tuesday next week due to the developments in the international oil market,” Department of Energy director Rodela Romero said in a statement. Agency and the Organization of the Exporting Countries coupled with data showing a sharper than expected drop in US crude inventories.

On June 11, 2024, the oil companies implemented a decrease on the prices of petroleum products. Gasoline, diesel and kerosene prices have decreased by P0.60, P1.20 and P1.30 per liter, respectively.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MlaStandard /  🏆 20. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bigtime fuel price rollback next TuesdayDefining the News
Read more »

‘Atin Ito’ convoy pulls a “Diskarteng Pinoy;” breaches China blockade en route to Bajo de MasinlocDefining the News
Read more »

CHR now accepting complaints onlineDefining the News
Read more »

USAID opens program for Filipino academicsDefining the News
Read more »

DHSUD ties up with Clark company to boost gov’t mass housing programDefining the News
Read more »

Makati global confab focuses on developing PH mining industryDefining the News
Read more »