Oil companies are expected to raise their pump prices this week because of Russia's decision to cut its oil output, the Department of Energy said.Industry sources said that...
Oil companies are expected to raise their pump prices this week because of Russia's decision to cut its oil output, the Department of Energy said.Industry sources said that the cost of diesel may increase by P0.70 to P0.90 per liter, and gasoline by P0.50 to P0.70 per liter.The price of kerosene on the other hand will either remain the same or go down by P0.15 per liter.
The International Energy Agency earlier predicted that the world oil demand will increase by two million barrels per day this year.The DoE said that the United States' interest rate decision can also affect fuel prices. 'Winter is almost over but there are lingering factors.
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