Oil price rollback seen after Election Day | ABS-CBN
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Oil price rollback seen after Election Day
Oil price rollback seen after Election Day
MANILA — Another round of price cuts for petroleum products is expected on the second week of May, based on the previous trading days this week.
MANILA — Another round of price cuts for petroleum products is expected on the second week of May, based on the previous trading days this week.
The following adjustments on pump prices will take effect Tuesday, May 13:
The following adjustments on pump prices will take effect Tuesday, May 13:
Gasoline - P0.70-P0.90/L ⬇️
Gasoline - P0.70-P0.90/L ⬇️
Diesel - P0.10-P0.30/L ⬇️
Diesel - P0.10-P0.30/L ⬇️
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Kerosene - P1.20-P1.40/L ⬇️
Kerosene - P1.20-P1.40/L ⬇️
Increased production of 411,000 barrels a day by OPEC+ member countries and the uncertainty in the trade talks between US and China are affecting oil prices, said Assistant Director III Rodela Romero of the Oil Industry Management Bureau.
Increased production of 411,000 barrels a day by OPEC+ member countries and the uncertainty in the trade talks between US and China are affecting oil prices, said Assistant Director III Rodela Romero of the Oil Industry Management Bureau.
An oversupply of fuel is seen as possible result of negotiations between US and other countries.
An oversupply of fuel is seen as possible result of negotiations between US and other countries.
This is the second straight week of oil price rollback in May. — with a report from Alvin Elchico and David Dazon, ABS-CBN News
This is the second straight week of oil price rollback in May. — with a report from Alvin Elchico and David Dazon, ABS-CBN News
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