Another big-time fuel price hike expected next week

[Cookie2122]

Motorists should brace for another round of increase in fuel pump prices in the coming week, according to Department of Energy-Oil Industry Management Bureau Director III Rodela Romero. The following are the estimated per liter price adjustments for Tuesday, June 25. 2024.​

• Gasoline - P0.85 to P1.15​
• Diesel - P1.55 to P1.85​
• Kerosene - P1.00 to P1.10​

“Relevant news for the week that push the oil prices up are the continued geopolitical tensions and supply risks. Last June 18, Ukrainian drone strike caused a fire at a major Russian oil terminal while the Israel’s ‘all out war’ with Lebanon’s Hezbollah contributed to the tension,” Romero said. “The OPEC’s (Organization of Petroleum Exporting Countries) optimistic outlook that forecasted for strong growth in global oil demand for 2024 and 2025; and the peak summer driving season in Northern Hemisphere area also support oil prices,” she added.​

 

[goodknight]

Motorists should brace for another round of increase in fuel pump prices in the coming week, according to Department of Energy-Oil Industry Management Bureau Director III Rodela Romero. The following are the estimated per liter price adjustments for Tuesday, June 25. 2024.​

• Gasoline - P0.85 to P1.15​
• Diesel - P1.55 to P1.85​
• Kerosene - P1.00 to P1.10​

“Relevant news for the week that push the oil prices up are the continued geopolitical tensions and supply risks. Last June 18, Ukrainian drone strike caused a fire at a major Russian oil terminal while the Israel’s ‘all out war’ with Lebanon’s Hezbollah contributed to the tension,” Romero said. “The OPEC’s (Organization of Petroleum Exporting Countries) optimistic outlook that forecasted for strong growth in global oil demand for 2024 and 2025; and the peak summer driving season in Northern Hemisphere area also support oil prices,” she added.​

Fill up the tank now! Gas prices are about to go according to reports. Brace yourselves for pain at the pump next week.

 

[Xeth_]

Buckle up—looks like fuel prices are set to rise again next week!

 

[horribLily]

Motorists are feeling the pinch with fuel prices on the rise due to geopolitical tensions. It's a good time to consider fuel-saving options and alternative energy sources.