• CHERYL G. CRUZ
The first round of oil price hikes this year will take effect on Jan. 7, with diesel set to increase by P1.20 to P1.40 per liter, gasoline by P0.80 to P1/L, and kerosene by P0.90 to P1.10/L.
Exact adjustments will be known today, Jan. 6.
Price of Dubai crude has increased by about $0.60 per barrel, as per the latest Department of Energy oil monitoring, while reports said that uncertainties around both supply and demand continue with US President-elect Donald Trump set to take office on Jan. 20.
The DOE also said that pump prices of gasoline and diesel logged a net increase of P12.75/liter and P11/liter, respectively, for the whole of 2024, while kerosene has total net decrease of P2.70/liter. | CGC
