Slight cuts in oil prices expected next week | ABS-CBN
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Slight cuts in oil prices expected next week
Slight cuts in oil prices expected next week
MANILA — A slight reduction in fuel prices looms next week, according to the Department of Energy, though the additional cost that oil companies will impose might also result to no movement on pump prices.
MANILA — A slight reduction in fuel prices looms next week, according to the Department of Energy, though the additional cost that oil companies will impose might also result to no movement on pump prices.
The following price adjustment will take effect on February 11, Tuesday:
The following price adjustment will take effect on February 11, Tuesday:
Gasoline - P0.00-P0.10/liter decrease
Diesel - P0.00-P0.20/liter decrease
Kerosene - P0.00-P0.20/liter decrease
On Friday, the DOE said the increased oil demand from China and India, as well as some countries' absorption of US President Donald Trump's sweeping tariffs, had affected the pump prices adjustment.
On Friday, the DOE said the increased oil demand from China and India, as well as some countries' absorption of US President Donald Trump's sweeping tariffs, had affected the pump prices adjustment.
Assistant Director Rodela Romero of the DOE Oil Industry Management Bureau earlier stated that Saudi Aramco, Saudi Arabia's national oil company, announced it will raise oil prices for Asian countries due to increased demand from China and India. -- with report from Alvin Elchico, ABS-CBN News
Assistant Director Rodela Romero of the DOE Oil Industry Management Bureau earlier stated that Saudi Aramco, Saudi Arabia's national oil company, announced it will raise oil prices for Asian countries due to increased demand from China and India. -- with report from Alvin Elchico, ABS-CBN News
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