• CHERYL G. CRUZ
After last week’s rollback, the per-liter prices of petroleum products will again increase effective tomorrow, Nov. 26.
Expect diesel to increase by P0.90 to P1.10 per liter, gasoline by P0.90 to P1.10.L, and kerosene by P0.60 to P0.90/L. The exact adjustments will be known today.
The week-on-week price of Dubai crude has increased by almost $1.70 per barrel, the Department of Energy said as per its Oil Monitor, adding the international price of gasoline, diesel, and kerosene have also increased by about $2.50, $3.70, and $2.20 per barrel, respectively.
“Crude futures settled higher as hurricane Rafael shuts 22.4 percent of the US Gulf’s crude oil production, and on OPEC’s announcement of delaying production hikes while the market continues to digest US election results, and a US Federal Reserve interest rate cut,” the DOE said. | CGC
