PBBM, personal na inalam ang kalagayan ng mga residenteng binaha sa Central Luzon
PBBM, personal na inalam ang kalagayan ng mga residenteng binaha sa Central Luzon
Transcript
00:00 We will now call on Atty. Rino Abad, director of the Oil Industry Management Bureau of the Energy Department. Atty. Abad, good morning.
00:08 Good morning. Good morning to our countrymen.
00:13 Yes. Director, how much increase are we expecting in the price of crude oil, gasoline and kerosene?
00:26 There is a notification that there is an increase of P50.00. That's tomorrow. Diesel would be P4.00 per liter and kerosene would be P2.00 and P75.00.
00:44 So diesel is P4.00, is that correct?
00:48 Yes.
00:49 How much for gasoline?
00:52 Gasoline would be P50.00 and kerosene would be P2.00 and P75.00.
01:00 All right. Director, what is the reason for this big-time oil price hike this week?
01:08 This is the continuous effect of the production cut of Saudi Arabia. Saudi Arabia implemented this in August.
01:24 This is being implemented now after the ministerial meeting of OPEC Plus on August 3. Russia added next month, aside from the one million commitment of Saudi,
01:41 on a daily basis, there will be an additional 300,000 to 500,000 barrels per day that Russia will add in production cuts.