Fuel price hike forecast next week, electricity rates to go up this month READ MORE:
next week to reflect the movement of prices in the world oil market, industry sources told the Standard on Friday.
Meralco Regulatory Affairs head Ronald Valles said that owing to the Malampaya natural gas shutdown last February, power plants that run on natural gas had to use more expensive fuel.On oil, the industry source told the Standard: “As of Thursday, the indicative movement on pump prices next week computed based on this week’s first four days Mean of Platts Singapore and forex average versus last week’s full week MOPS and forex average is a possible increase of P1.20 to P1.
Meralco plans to write the Energy Regulatory Commission to ask for advice on how to mitigate the impact on consumers, he added. Meanwhile, DOE undersecretary Alessandro Sales said during the two-day LPG Summit the promulgation of Republic Act No. 11592 or the “LPG Industry Regulation Act” on October 14, 2021 paved the way for additional mandates of the different government agencies involved in liquefied petroleum gas-related activities and concerns.
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