The pinch on consumers’ pockets will continue next week, as oil prices will be rising again for the third time this month.Calculations by oil companies based on the outcome of trading in the international market, estimated price adjustments will be P1.75 to P1.85 per liter for diesel; and P2.10 to P2.20 per liter for kerosene products.
International benchmark Brent crude surged past US$86 per barrel last week; a remarkable jump of roughly US$5.00 per barrel from the previous week; while Dubai crude, which is the pricing reference for Asian market, topped US$81 per barrel. As culled from the monitoring report of the Department of Energy , the cost adjustments in the last two weeks had already driven up pump prices by P2.60 per liter for gasoline; P3.50 per liter for diesel; and P2.75 per liter for kerosene.
It's time the government stopped this madness. In any case, things cannot go on like this.
Jihoz_Axie brycent_ ZyoriTV Psycheout86
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.