7bet gaming or sevenbet Big oil price hike: P2.10/L for diesel, P1.50/L for gas starting Nov 12
JILI - jili slot - JILI Games - JILI Casino

JILI - jili slot - JILI Games - JILI Casino

7bet gaming or sevenbet Big oil price hike: P2.10/L for diesel, P1.50/L for gas starting Nov 12

Updated:2024-11-13 03:06    Views:58

Big oil price hike: P2.10/liter for diesel, P1.50 for gas from Nov 12

A hefty oil price hike is set starting Tuesday, November 12, 2024, with diesel costs surging by P2.10 a liter, based on separate advisories of petroleum companies. INQUIRER FILE PHOTO

A hefty oil price hike is set starting Tuesday, November 12, with diesel costs surging by P2.10 a liter, based on separate advisories of petroleum companies.

Seaoil, PetroGazz, Shell Pilipinas, and Caltex also said the prices of gasoline and kerosene will rise by P1.50 and P1.20 per liter, respectively.

Article continues after this advertisement

Rodela Romero, director of the Department of Energy’s (DOE) Oil Industry Management Bureau, said last week that oil prices had climbed due to Hurricane Rafael’s impact on the US, which could dampen the region’s output. She also noted the delayed plans of OPEC+, made up of the Organization of the Petroleum Exporting Countries and allies led by Russia, to boost oil production next month.

FEATURED STORIES BUSINESS BIZ BUZZ: Razon cries foul BUSINESS Missing funds prompt BSP probe of GCash BUSINESS JK Capital Finance locks in P300-million credit guarantee

READ: Oil companies set mixed fuel price movements starting November 5

Article continues after this advertisement

The energy official said the US Federal Reserve’s plan to impose another round of interest rate cuts also affected trading in the past four days.

“Other contributing factors in the estimated increase for oil prices by next week are the depreciation of [the] peso, the premium added to the purchase of the petroleum products, and the freight cost,” she added.

Last week, fuel retailers implemented mixed adjustments for the prices of petroleum products, with only gasoline recording a rollback.

Your subscription could not be saved. Please try again. Your subscription has been successful.

Subscribe to our daily newsletter

SIGN ME UP

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.7bet gaming or sevenbet

READ NEXT Visionary Leadership: Henry Sy Jr. and SMDC’s 20-year journe... Marcos signs CREATE MORE Act amending corporate income taxes law EDITORS' PICK More than 2 million Fil-Ams cast their votes in 2024 elections Inquirer business reporters bag 2 Ejap awards Dua Lipa, BF Callum Turner take a stroll in Intramuros LIVE UPDATES: Typhoon Nika IN PHOTOS: Fluvial procession of Nuestra Señora de Regla in Lapu-Lapu, Cebu Kouame back as Gilas releases 15-man pool for Fiba qualifiers MOST READ Comelec to decide on removing regulation of private social media accounts Royina Garma, daughter arrested, detained in California – DOJ BTr fully awards T-bonds Ofel now a severe tropical storm, to steadily intensify over 3 days Follow @FMangosingINQ on Twitter --> View comments

JILI - jili slot - JILI Games - JILI Casino

A hefty oil price hike is set starting Tuesday, November 12, 2024, with diesel costs surging by P2.10 a liter, based on separate advisories of petroleum companies. INQUIRER FILE PHOTO A hefty oil price hike is set starting Tuesday, November 12, with