Fuel price hike seen next week; Sen. Gatchalian eyes to institutionalize transparency in fuel price adjustments
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NewsTranscript
00:00Oil prices could rise again in the final week of September following two weeks of declines
00:05according to the Department of Energy or DOE. Gasoline prices could rise by 40 centavos per
00:12liter to 90 centavos per liter while diesel might see no change or an increase of up to 40 centavos
00:19per liter. Kerosene prices could also remain stable or increase to 20 centavos per liter.
00:25The main factors driving these potential price increases include ongoing tensions in the Middle
00:30East, a decrease in U.S. oil inventory, and continued maintenance at a refinery in Japan.
00:36Meanwhile, Senator Sherwin Gatchalian is urging for a law to enhance transparency
00:41in petroleum pricing to protect consumers. He stressed the need for public access to
00:46significant price change information. Following a Supreme Court ruling, he has filed Senate Bill
00:52No. 2081 to require all companies to disclose pump price components when Dubai crude exceeds
00:58to $80 per barrel.