THERE will be a major price increase for fuel products on Tuesday, November 12, 2024.
In their respective advisories, Pilipinas Shell, Seaoil, PetroGazz and Caltex said there will be a P2.10 per liter price hike for diesel, P1.50 per liter on gasoline and P1.20 per liter on kerosene.
The pump price change will be effective at 6 a.m. on November 12.
Among the reasons for the continuous increase in fuel prices are the situation in the oil facilities of the United States in the Gulf of Mexico brought about by the hurricane season and the extended production cut imposed by the Organization of Petroleum Exporting Countries until December.
The Department of Energy also took note of the weakening value of Peso against the US dollar. (TPM/SunStar Philippines)
