Fuel prices set to drop after staggered oil price hikes
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Fuel prices set to drop after staggered oil price hikes

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Oil prices are set to go down next week as fears of supply disruption were abated by the ceasefire between Israel and Iran, the Department of Energy said Friday.
Oil prices are set to go down next week as fears of supply disruption were abated by the ceasefire between Israel and Iran, the Department of Energy said Friday.
Assistant Director III Rodela Romero of the Oil Industry Management Bureau said the following price adjustments may be implemented in the last week of June, based on 4 days of trading on the Mean of Platts Singapore:
Assistant Director III Rodela Romero of the Oil Industry Management Bureau said the following price adjustments may be implemented in the last week of June, based on 4 days of trading on the Mean of Platts Singapore:
Gasoline – P1.00 to P1.40/liter
Diesel – P1.60. to P2.10/liter
Kerosene – P2.00 to P2.20/liter
She said the price adjustment is due to lower oil prices in the world market as a ceasefire between Iran and Israel appeared to be holding firm.
She said the price adjustment is due to lower oil prices in the world market as a ceasefire between Iran and Israel appeared to be holding firm.
Oil companies implemented staggered price hikes this week amid skyrocketing fuel prices.
Oil companies implemented staggered price hikes this week amid skyrocketing fuel prices.
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Meanwhile, Trade Secretary Cristina Roque said basic and prime commodities have yet to increase prices after the recent oil price hikes.
Meanwhile, Trade Secretary Cristina Roque said basic and prime commodities have yet to increase prices after the recent oil price hikes.
“Of course kapag tumagal itong pagtataas ng petrolyo, may magtatanong na mga manufacturer, may magsi-signify sa amin kung pwedeng mag-price increase pero sa ngayon wala pang price increase. So far, wala pang humihirit,” she said.
“Of course kapag tumagal itong pagtataas ng petrolyo, may magtatanong na mga manufacturer, may magsi-signify sa amin kung pwedeng mag-price increase pero sa ngayon wala pang price increase. So far, wala pang humihirit,” she said.
She said sardine makers who had asked for a price increase last week agreed to hold off on the price adjustments to support the President and consumers.
She said sardine makers who had asked for a price increase last week agreed to hold off on the price adjustments to support the President and consumers.
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