Get ready for more fuel price hikes this month, says the DOE

The agency expects the rise to continue
by Leandre Grecia | Jun 8, 2022
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PHOTO: Leandre Grecia

If you feel like there’ll be no end to the weekly fuel price hikes, you’re not alone. And it looks like you’re not wrong, either.

As reported here by reportr, the Department of Energy (DOE) is expecting even more price increases in June.

Itong tuloy-tuloy na pagtaas ay may expectation po tayo na mangyayari at mangyayari sa mga susunod na weeks,” said DOE Oil Industry Management Bureau director Rino Abad in an interview on GMA’s Unang Balita. “Wala po tayong nakikitang event ngayon para dumating na siyang mag-o-offset nitong push ng mga events na ito na tuloy-tuloy nagpapa-increase ng mga price.”

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The projected price hikes are being attributed to global factors such as the European Union’s ban on oil imports from Russia, as well as the reopening of countries under lockdown that will result in an increased demand for oil.

No word from the DOE if it has anything in its pipeline that could help motorists cope with the rising pump prices. Best we can do right now is to share with you some fuel-saving tips that could help you save a few pesos here and there in the coming weeks.

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PHOTO: Leandre Grecia
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