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Oil prices up in final week of March

Oil prices up in final week of March

Benise Balaoing,

ABS-CBN News

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MANILA -- Oil prices are going up in the last week of March.

Petroleum companies announce the following price hikes effective Tuesday, March 25:

SHELL PILIPINAS, CALTEX, SEAOIL (effective 6 a.m.)
Gasoline - P1.10/liter increase
Kerosene - P0.40/liter increase
Diesel - P0.40/liter

CLEANFUEL (effective 4:01 p.m.)
Gasoline - P1.10/liter increase
Diesel - P0.40/liter

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Assistant Director III Rodela Romero of the DOE Oil Industry Management Bureau earlier said factors affecting oil prices include Israel's expansion of ground operations across Gaza, ratcheting up tensions in the Middle East, and China’s new consumption action plan, which is expected to increase demand.

A decline in US oil inventories is also affecting prices.


More details to follow. 

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