Varied oil price adjustments for first week of November
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Varied oil price adjustments for first week of November
by Jim Fernandez03 November 2024
Motorists queue at a gas station a day before an oil price hike, in Quezon City, Metro Manila, Philippines, June 6, 2022. REUTERS/ Eloisa Lopez
The first week of November may see a dip in gasoline prices and an uptick for diesel and kerosene.
The Department of Energy (DOE) - Oil Industry Management Bureau forecasts the price changes to range accordingly:
- Gasoline - ₱0.10/liter - ₱0.30/liter less
- Diesel - ₱0.50/liter - ₱0.75/liter more
- Kerosene - ₱0.40/liter - ₱0.50/liter more
These shifts have been attributed to a shortage in diesel, kerosene, and jet fuel supply in Asia, as well as the rising demand in the United States and ongoing conflicts in the Middle East.
The final prices will be announced on Monday and take effect on Tuesday.
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