Fuel prices of Petroleum products to go up
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NewsTranscript
00:00Heads up, motorists, because several oil firms have announced an oil price hike that will
00:04take effect starting tomorrow, March 25.
00:07In separate advisories, Caltech, Sea Oil Philippines, and Shell Pilipinas announced that they will
00:13increase prices per liter of gasoline by 1 peso and 10 centavos, while diesel and kerosene
00:18will go up by 40 centavos each.
00:21The price changes will take effect at 6 in the morning tomorrow.
00:26Shell Clean Fuel will implement these same adjustments, excluding kerosene, which it
00:31does not carry, and will adjust its prices at 4.01 pm the same day.
00:36The Department of Energy Oil Industry Management Bureau earlier projected this week's upward
00:42adjustments citing rising tensions in the Middle East, increased consumption following
00:47Beijing's fiscal stimulus measures, and a decline in U.S. fuel inventories.