Pump prices on slight increase this week 0 SHARES Share it! Share TweetBy Myrna VelascoIt will be a reverse course for pump prices this coming week with slight increases anticipated to range between P0.15 to P0.40 per liter for diesel and gasoline products. Being their routine, the oil companies are expected to adjust pump prices until Tuesday (June 18); which is also aligned with the recently issued Circular of the Department of Energy. As tracked by industry watchers, world oil prices had been on a rally last week due to fresh round of tension in the Middle East, primarily the assault on tankers in the gulf of Oman. Market speculations abound that Russia may no longer concur to ‘production cuts’ as strategy to lift sagging oil prices, hence, that will also impact significantly on oil supply-demand dynamics moving forward.

Source: Manila Bulletin June 15, 2019 04:18 UTC