Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Mark Demayo, ABS-CBN News
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Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Mark Demayo, ABS-CBN News

FUEL PRICE HIKE

Benise Balaoing

Alvin Elchico

ABS-CBN News

<p>MANILA — Gasoline prices are down while diesel prices are going up in the first week of November.</p><p>Oil companies announced the following price adjustments starting Tuesday, November 5. </p><div><span data-teams="true" id="isPasted"><span dir="ltr"></span></span></div><p><strong>PILIPINAS SHELL, SEAOIL, CALTEX (effective 6 a.m.)</strong><br/>Gasoline - P0.10/liter decrease<br/>Kerosene - P0.50/liter increase<br/>Diesel - P0.75/liter increase</p><p><strong>CLEANFUEL (effective 4:01 p.m.)</strong><br/>Gasoline - P0.10/liter decrease<br/>Diesel - P0.75/liter increase<br/><br/><strong>PETROGAZZ, JETTI PETROLEUM (effective 6 a.m.)</strong><br/>Gasoline - P0.10/liter decrease<br/>Diesel - P0.75/liter increase</p><p>Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said the price increase was driven by the geopolitical tensions in the Middle East.</p><p>US inventory also dipped and the reduction in OPEC production contributed, too.</p><div><a href="https://news.abs-cbn.com/business/2024/11/4/eight-opec-members-extend-oil-supply-cuts-until-year-end-930">Eight OPEC+ members extend oil supply cuts until year end</a></div><p>Romero said the upward movement in diesel incorporated the increase in biodiesel content in diesel. But it remains unclear whether this is already the complete recovery or just a partial recovery of the adjustment estimated to reach P0.60-P0.70/liter.</p><div><br/></div><div><br/></div><style type="text/css" id="isPasted">
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Gasoline down, diesel up in first week of November

Gasoline down, diesel up in first week of November

Benise Balaoing,

Alvin Elchico,

ABS-CBN News

Published Nov 04, 2024 10:21 AM PHT

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Updated Nov 04, 2024 03:19 PM PHT

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