Fuel price hike expected next week — DOE
MANILA, Philippines — Fuel prices are expected to increase anew next week due to an increase in demand, the Department of Energy (DOE) said Friday.
DOE Oil Industry Management Bureau Assistant Director Rodela Romero said that their four-day monitoring so far this week has indicated that fuel prices will rise next week.
Romero said diesel and kerosene may increase by around P5 per liter while gasoline may rise by more than P1 per liter.
“So ngayon, bale apat na araw pa lang dahil hindi pa lumalabas yung pang Friday na trading so magkakaroon ng adjustment na pataas sa presyo ng produktong petrolyo—mula gasoline, diesel and kerosene,” Romero said during the Laging Handa briefing.
(Right now, based on our four-day forecast and with the Friday trading yet to be released, there will be an increase in the prices of petroleum products such as gasoline, diesel, and kerosene.)
Article continues after this advertisementRomero said a possible reason for the increase in prices is the rise in demand as some countries approach the winter season and an increased demand for fuel.
Article continues after this advertisementMeanwhile, some countries, Romero added, are approaching their harvest season.
“Nagsisimula na ‘yung paglamig sa ibang mga bansa at tsaka alam naman po natin na ang petroleum products or even the LPG ay heating fuel. So dun sa bansang malalamig, ginagamit siya para pang-init,” Romero said.
(The winter season is starting in some countries, and petroleum products and even LPG are used for heating purposes.)
“Tapos may mga bansa din na harvest season nila. So ganun din, ginagamit ang petroleum products. So dahilan dito para tumaas ang demand o pangangailangan sa petroleum products kaya nagkaroon ng mahalan na pagbili,” she added.
(Some countries are approaching their harvest season so they also use petroleum products, hence an increase in demand and price of petroleum products.)
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