Public Utility jeepney drivers line up to refuel at a gasoline station in West Avenue in Quezon City on September 18, 2023

Public Utility jeepney drivers line up to refuel at a gasoline station in West Avenue in Quezon City on September 18, 2023, bracing themselves for another price hike the following day. Diesel prices are slated to go up by 2.50 pesos per liter, with Kerosene and Gasoline prices increasing at 2 pesos per liter. 

 Jonathan Cellona, ABS-CBN News

OIL PRICE HIKE

Ched Rick Gatchalian

ABS-CBN News

<p>MANILA -- Motorists are seen to welcome Christmas with potential hikes on petroleum products, especially diesel, according to the Department of Energy.</p><p>The following adjustments based on this week&#x27;s world trading may take effect on Tuesday, December 24:</p><p>-- Diesel - P1.20-P1.40/L increase</p><p>-- Gasoline - P0.30-P0.50/L increase</p><p>-- Kerosene - P0.70-P0.90/L increase</p><p>Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero earlier said the price increase is due to stronger dollar.</p><p>&quot;Ang primary reason po, lumakas po ang dolyares. Alam naman natin na lahat ng binibiling produkto sa labas ng bansa ginagamit po natin dollar. Sabi nga nila pinakamataas ito since 2022, &#x27;yung dolyar,&quot; she explained.</p><p>With the on-going Middle east tension, experts still see the conflict impacting oil production.</p><p>Leo Bellas, president of Jetti Petroleum, also emphasized the international events prompting the oil prices to hike.&quot;Nandoon po &#x27;yung pangamba no&#x27;ng sanctions na ipapataw sa Russia, saka &#x27;yung US Federal Reserve na magka-cut ng interest rates. Pero kung titingnan po natin &#x27;yung market ng asia, talagang tight pa rin po &#x27;yung diesel po at gasolina,&quot; he said on an interview. <strong>-- with a report from Alvin Elchico, ABS-CBN News</strong></p><div><a class="fr-green fr-strong" href="https://www.abs-cbn.com/news/business/2024/12/14/another-oil-price-hike-looms-next-week-1319">Another oil price hike looms next week</a></div><div><strong>RELATED VIDEO:</strong></div><div><strong><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/L_sQ7D_qvuA?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></strong><br/></div>

<p>Motorists are seen to welcome Christmas with potential hikes on petroleum products, especially diesel, according to the Department of Energy.</p>

Motorists are seen to welcome Christmas with potential hikes on petroleum products, especially diesel, according to the Department of Energy.

Fuel price hike expected on Christmas week | ABS-CBN

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Fuel price hike expected on Christmas week

Fuel price hike expected on Christmas week

Ched Rick Gatchalian,

ABS-CBN News

Published Dec 21, 2024 12:34 PM PHT

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