The said prices will be effective on Tuesday at 6:00 a.m. Petro Gazz will also implement the same price hike on their diesel (P0.20/liter), and gasoline (P0.30/liter). Meanwhile, Cleanfuel is set to implement their price adjustments on Wednesday (February 26) at 12:01 a.m. "The LPG price hike is not related to the elections. LPG price hike depends on global markets and consumption. Energy is a global commodity. Sometimes it goes up, sometimes it goes down. It's not in my hand," said Pradhan. "Due to declining crude oil prices petrol and diesel prices came down by Rs 5 in last 20 days," he added. The US Energy Information Administration on said crude inventories fell by almost five million barrels to 419.5 million barrels in the week to 5 January. US production also fell by 290,000 barrels per day to 9.5 million. US oil also rose 1.5% to $64.51 a barrel. Despite the increase, at Rs 64.32 per litre ATF costs less than petrol and diesel. A litre of petrol in the national capital comes for Rs 75.14 while diesel is priced at Rs 67.96 a litre. Simultaneously, oil companies also raised the price of non-subsidised LPG to Rs 714 per 14.2-kg cylinder from Rs 695 previously.
Another oil price hike is set to hit consumers this week. Industry players said prices of diesel will increase by more than P1.00 per liter while gasoline and kerosene by P1.00 per liter. The Department of Energy (DOE) said one of the reasons seen for the price hike is the US sanctions against Iran.
29 Dec 2019 Oil prices rose more than 20% this year but there were no sharp spikes and crude futures barely sniffed $70 a barrel despite attacks on the 16 Sep 2019 Oil prices spiked as much as 20 per cent on fears of prolonged supply “if needed” in a “to-be-determined amount” in a clear effort to calm the price hike. The state news body also said Prince Abdulaziz bin Salman, the 31 Oct 2019 Oil price falls on hike in US crude stockpiles, trade deal concerns. NEW YORK: Oil prices fell on Wednesday after a steep U.S. crude inventory 17 Sep 2019 KUALA LUMPUR: The sudden surge in oil prices following the attack on Saudi Arabia's oilfield that has cut the kingdom's output by half, will be 9 Jan 2020 Iran is benefiting from rising oil prices, Iranian Oil Minister Bijan Zanganeh was quoted as saying by the semi-official ISNA news agency on 23 Sep 2019 Motorists should brace for significant price hikes as oil companies have announced the biggest increase in pump prices this year. 17 Sep 2019 Economists say the spike in oil prices following the attacks on Saudi oil Subscribe to our newsletter and get news delivered to your mailbox.
News Analysis: Oil price hikes pressure Egypt's budget amid tight reform program . Source: Xinhua| 2018-10-14 04:08:25|Editor: ZX
15 Nov 2019 A woman fills up her tank at a gas station after a hike in fuel prices was that have resulted in a devastating decline in Iran's oil income -- with Iranian "The most important economic news of the year was announced at 16 Sep 2019 Oil price makes biggest intraday jump since 1988 after Houthi drone attack on A tit-for-tat oil fight between Saudi Arabia and Iran will be bad news for dividend following double-digit increases in its revenues and profit. News Analysis: Oil price hikes pressure Egypt's budget amid tight reform program . Source: Xinhua| 2018-10-14 04:08:25|Editor: ZX 23 May 2018 The price of fuel continues to rise, having recently hit the highest on the news that Patrick Pouyanne, CEO of Total had speculated that oil 16 Sep 2019 “We have never seen a supply disruption and price response like this in the oil market,” said Saul Kavonic, an energy analyst at Credit Suisse 17 Sep 2019 Motorists can expect a hike in the price of petrol and diesel prices Speaking to RTÉ News Mr Faughnan said unless oil prices drop, Irish 11 Apr 2019 With Brent touching five-month high on Monday, Goldman Sachs has raised its crude oil price forecast for this year, in what could worry for the
Oil's latest price moves and today's key news stories driving crude's action, as well as developments in the broader energy sector.
The oil markets are expecting yet again that OPEC will be the hero of oil prices, and this optimism has sent oil prices up 4% on Monday afternoon, and up… Canada’s Husky Energy is the latest North American oil firm to slash spending amid collapsing oil prices, saying that it is reducing its capital budget by US$648 million (C$900… < First < 1 Oil’s latest price moves and today’s key news stories driving crude’s action, as well as developments in the broader energy sector.
15 Nov 2019 Petrol in Iran - the world's number five oil producer - is cheaper than in most countries. That could bolster justifications for a price hike, given the
Oil prices rise. Oil refinery. Getty Images. The price of oil has risen again amid hopes Oil's latest price moves and today's key news stories driving crude's action, as well as developments in the broader energy sector. Oil companies announce major price hikes for Tuesday, September 17, just as oil prices in the world market also surge following attacks on Saudi facilities 10 Mar 2020 The supply hike -- more than 25% higher than last month's production -- puts Aramco above its maximum sustainable capacity, indicating that the 7 Mar 2020 Saudi Arabia plans to boost oil output next month to well above 10 million barrels a day, as the kingdom responds aggressively to the collapse 7 Jan 2020 The muted initial reaction to last week's killing of an Iranian general points to confidence that shipping lanes will be unaffected. 30 Dec 2019 The hike in oil prices takes effect at 6 a.m. of Tuesday, December 31. Pilipinas Shell and Petro Gazz announced their respective price
This is the second straight week oil companies would be implementing significant price hikes. Last week, local oil firms raised gasoline prices by P1.35 per liter, diesel by P0.85 per liter and The world’s largest oil exporter started a price war on Saturday by slashing the prices it sells crude into foreign markets by the most in at least 20 years, offering unprecedented discounts in Oil slides again, squeezed between coronavirus demand hit and price war bite 16 Mar, 2020, 03:29AM IST Brent crude fell $1.13 to $32.72 a barrel by 0230 GMT, tumbling after last week's plunge of 25%, the largest weekly fall since 2008. 9 Hikes In 9 Days, Minister To Meet Oil Companies, Say Sources: 10 Facts India News | Reported by Sunil Prabhu, Edited by Anindita Sanyal | Tuesday May 22, 2018 The government is likely to intervene to bring down the rising prices of petrol and diesel,