Gasoline prices went up by P1.40 per liter—higher than the earlier forecast of P1.20 per liter—effective 6 a.m. today (Tuesday), but diesel and kerosene prices declined by P0.50 per liter and P0.35 per liter, respectively, local oil firms said in-- READ:
but diesel and kerosene prices declined by P0.50 per liter and P0.35 per liter, respectively, local oil firms said in respective statements.
PTT Philippines, Chevron Philippines, Phoenix Petroleum Philippines, Seaoil Philippines, PetroGazz, and Cleanfuel also implemented mixed price adjustments this week. Rodela Romero, Director III of the Department of Energy’s Oil Industry Management Bureau, attributed this week’s oil price movement to the continuing effect of the Organization of the Petroleum Exporting Countries and its allies to cut production by two million barrels per day.“Due to seasonality of demand, implementation of OPEC cut and COVID surge in China which pulled down demand,” Romero said.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cost of gasoline to go up by P1.40 per literGasoline prices will go up this week but the cost of diesel and kerosene will go down, oil companies said on Monday. In separate advisories, Pilipinas Shell, PetroGazz and Seaoil...
Read more »
Last total lunar eclipse for three years arrives TuesdayCAPE CANAVERAL, Florida: Better catch the moon's disappearing act Tuesday — there won't be another like it for three years. The total lunar eclipse will be visible...
Read more »
Malampaya could have been used to temper gas prices — think tank - BusinessWorld OnlineTHE GOVERNMENT could have used the remaining gas from the Malampaya field as a stabilizing source of supply to temper price volatility in the gas market, instead of allowing control of the field to change hands, according to an alternative-energy think tank.
Read more »
Energy crisis chips away at Europe’s industrial might - BusinessWorld OnlineWhile lower energy use helps Europe weather the crisis sparked by Russia’s war in Ukraine and Moscow’s supply cuts, executives, economists and industry groups warn its industrial base may end up severely weakened if high energy costs persist.
Read more »