Mixed movement for fuel prices possible in last week of October | ABS-CBN
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Mixed movement for fuel prices possible in last week of October
Mixed movement for fuel prices possible in last week of October
Ched Rick Gatchalian,
ABS-CBN News
Published Oct 26, 2024 02:12 PM PHT
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Updated Nov 07, 2024 04:12 PM PHT
MANILA — Oil companies are expected to conclude the month of October with mixed movement on fuel prices, after the rollback last week.
MANILA — Oil companies are expected to conclude the month of October with mixed movement on fuel prices, after the rollback last week.
Gasoline prices may have no movement or may go up by as much as P0.20 per liter, while diesel is predicted to go up by P0.50 per liter.
Gasoline prices may have no movement or may go up by as much as P0.20 per liter, while diesel is predicted to go up by P0.50 per liter.
Kerosene prices, meanwhile, will have an upward movement of P0.40 to P0.50 per liter.
Kerosene prices, meanwhile, will have an upward movement of P0.40 to P0.50 per liter.
According to Department of Energy - Oil Industry Management Bureau (DOE-OIMB), the increase on pump prices was possibly influenced by South Korea's recent rising fuel demand.
According to Department of Energy - Oil Industry Management Bureau (DOE-OIMB), the increase on pump prices was possibly influenced by South Korea's recent rising fuel demand.
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It also added that the retaliating attacks between Israel and Iran could have worsen the price hikes.
It also added that the retaliating attacks between Israel and Iran could have worsen the price hikes.
Final price adjustments will be announced on Monday and shall take effect on Tuesday.
Final price adjustments will be announced on Monday and shall take effect on Tuesday.
From January until October 22, there is still a net increase, P8.55/L for gasoline and P6.05/L for diesel.
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