GAS up republicasia motorists!
The Department of Energy (DOE) said that they are looking at a big-time increase for gasoline prices.
According to Rodela Romero, Director III of the Oil Industry Management Bureau, they predicted that gasoline prices could go up by P1.95-P2.10 per liter next week.
This is based on the first 4 days of trading on the Mean of Platts Singapore.
This will be the biggest price increase for gasoline since the start of 2024.
On the other hand, diesel prices could go up by P0.65-P0.85 per liter, as kerosene prices will go up P0.20-P0.30 per liter next week.
Romero said that there are several factors for the price adjustments including lowering of US crude stock amid high demand and the Chinese central bank’s release of a stimulus package for economic recovery, which is also demand-related.
