Oil price hike seen next week; LPG price up

Transcript

00:00 Price hike for liquefied petroleum gas took effect today, September 1.

00:04 The price of saline LPG per kilo increased by 6 pesos and 64 centavos, while per kilo of LPG in

00:11 Petron and Phoenix go up by 6 pesos and 65 centavos. Auto LPG increased by 3 pesos and 70 centavos per

00:19 liter, and according to the Department of Energy, the price of LPG tank ranges from 718 pesos to

00:25 935 pesos in Metro Manila. Meanwhile, prices of pump products may possibly go up next week.

00:32 Based on industry sources of PTV, the price per liter of gasoline may go up by 40 centavos,

00:38 1 peso per liter for diesel, and 1 peso and 10 centavos for kerosene. The DOE added the price

00:44 adjustment is due to weak fuel demand in China, the effect of Hurricane Adalia, power generation

00:49 facilities in U.S. Gulf of Mexico, and the expected stricter supply of crude in the U.S.