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Consumers may expect a big-time oil price hike of as much as P1.40 per liter next week to reflect the movement of prices in the world oil market.
Estimated price increase for the four-day trading is estimated at P0.90 to P1.20 per liter for gasoline, P1.20 to P1.40 for diesel and P1.10 to P1.30 per liter for kerosene. Department of Energy director for the oil industry management bureau Rodela Romero confirmed the price increase estimates, but said Friday’s trading movement would determine the final adjustments based on Mean of Platts Singapore, the pricing benchmark used by oil importers.
Latest DOE monitoring showed that gasoline prices range from P57.40 to P86.67 per liter, diesel from P53.15 to P80.30 per liter, and kerosene from P72.04 to P83.79 per liter for the National Capital Region. On April 2, the oil firms announced a mixed movement with gasoline prices going up by P0.45 per liter while diesel and kerosene prices went down by P0.60 per liter and P1.05 per liter, respectively.DFA: Expect an ‘alignment of views’ between PH-US-JP at first Trilateral Leaders’ Summit
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