April to close with oil price hike | ABS-CBN
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April to close with oil price hike
MANILA — Based on the results of trading this week, motorists can expect another fuel price increase as April comes to a close.
MANILA — Based on the results of trading this week, motorists can expect another fuel price increase as April comes to a close.
The Department of Energy said Friday the hike is due to supply uncertainty brought by the US sanctions against Iran's oil shipping network.
The Department of Energy said Friday the hike is due to supply uncertainty brought by the US sanctions against Iran's oil shipping network.
The following price adjustments may be implemented on Tuesday, April 29:
The following price adjustments may be implemented on Tuesday, April 29:
Gasoline P1.20-P1.50/L ⬆️
Diesel P0.70-P0.90/L ⬆️
Kerosene P0.50-P0.70/L ⬆️
Gasoline P1.20-P1.50/L ⬆️
Diesel P0.70-P0.90/L ⬆️
Kerosene P0.50-P0.70/L ⬆️
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On Tuesday, the US Treasury imposed sanctions on Iranian liquefied petroleum gas magnate Seyed Asadoollah Emamjomeh and his corporate network responsible for distributing hundreds of millions of dollars' worth of Iran's fuel to foreign markets.
On Tuesday, the US Treasury imposed sanctions on Iranian liquefied petroleum gas magnate Seyed Asadoollah Emamjomeh and his corporate network responsible for distributing hundreds of millions of dollars' worth of Iran's fuel to foreign markets.
Another factor that influenced the increase was the decline in US oil inventory.
Another factor that influenced the increase was the decline in US oil inventory.
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