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NewsTranscript
00:00There is a big-time oil price hike expected in the next week.
00:04Up to Php 1.60 per litre is the possible price increase for diesel.
00:09Up to Php 2.00 is the expected price hike for kerosene.
00:13The possible price increase for gasoline is lower, up to Php 70 per litre.
00:19According to the Department of Energy Oil Industry Management Bureau,
00:22the production cut of OPEC Plus Country is one of the reasons for the price increase in the competitive market.
00:28The supply is also lower than the demand,
00:30which is why it is possible that there will be an increase in the price of oil every week.