Gasoline, diesel price hike seen on Christmas week
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Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero estimated the following adjustments in domestic pump prices:
- Gasoline – increase of 0.35 to 0.70
- Diesel – increase of 1.10 to 1.40
- Kero -increase of 0.90 to 1.00
“This is based on the four-day trading in Market Operator Performance Standards. The relevant news for the week in the international oil market that contributed to the said adjustments are stronger US dollar and fall of US crude stocks,” Rommero said.
“Final adjustments will be determined by todayβs MOPS trading and other operating costs of the oil companies,” she added.
In a separate DZBB Super Radyo Interview, Romero said added factors to the oil price hike include the continuing armed conflict in the Middle East and production cuts by oil-producing countries.
“The Middle East conflict remains unresolved, and oil-producing countries moved the date for increased production to April 2025,” explained Romero.
Oil companies announce official per liter price adjustments every Monday, which will take effect on the following day.
