DOE: Pump prices may climb in July
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00:00Motorists brace up as pump prices are expected to rise by less than a peso in
00:05the first week of July, marking the third consecutive week of oil price hikes. The
00:10Department of Energy projected increases of 50 to 80 centavos per liter for
00:14gasoline, 30 to 60 centavos per liter for diesel, and 20 to 40 centavos per liter
00:20for kerosene. The DOE attributed the increase to a rise in crude oil futures
00:24due to geopolitical tensions following Ukraine's drone attack on Russian
00:29refineries, OPEC production restrictions, and increased demand during the peak
00:34summer season in the U.S.