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. Diesel prices is forecast to increase by P6 to P6.85 per liter, gasoline prices at P1.20 to P1.40 per liter, and kerosene prices by P3.50 to P3.70 per liter. Mark Demayo, ABS-CBN News

FUEL PRICE HIKE

David Dizon

ABS-CBN News

<div><br/></div><div><br/></div><p>We’re getting coal in our Christmas stockings, Kapamilya, as oil prices are set to increase on Christmas Eve, the Department of Energy said Friday.</p><p>Assistant Director Rodela Romero of the DOE Oil Industry Management Bureau said the following increases will be implemented on December 24, based on 4 days of trading of Mean of Platts Singapore:</p><div><strong>Gasoline - P0.35-P0.70 per liter</strong></div><div><strong>Diesel - P1.10-P1.40 per liter</strong></div><div><strong>Kerosene - P0.90-P1.00 per liter</strong></div><p>Primary reason for the increases is the weaker peso, which touched a historic low of P59 to the US dollar on Thursday before regaining ground at P58.98: $1.</p><p>“Alam naman natin na lahat ng produkto na binibili sa labas ng bansa ay ginagamit po natin dollar. Sabi nga nila pinakamataas ito since 2022,” Romero said.</p><p>US crude stocks and distillate inventories also fell while gasoline inventories rose in the week ending Dec. 13, according to the US Energy Information Administration.</p>

<p>Primary reason for the increase in oil prices is the weaker peso, which touched a historic low of P59 to the US dollar on Thursday.</p>

Primary reason for the increase in oil prices is the weaker peso, which touched a historic low of P59 to the US dollar on Thursday.

Bah, humbug! Oil prices to increase on Christmas Eve | ABS-CBN

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Bah, humbug! Oil prices to increase on Christmas Eve

Bah, humbug! Oil prices to increase on Christmas Eve

David Dizon,

ABS-CBN News

Published Dec 20, 2024 07:14 AM PHT

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oil prices

gasoline

diesel

kerosene

department of energy

rodela romero

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