00:00 Here's a notice to motorists. Oil companies will possibly implement another round of oil price hikes next week.
00:05 Based on industry sources, the price for gasoline will pump up by one peso and ten centavos per liter.
00:12 Meanwhile, there will be no movement for the rates of diesel.
00:16 The price for kerosene will go up by 15 centavos,
00:19 and the said price adjustment is subject to change depending on the four days of trading.
00:24 According to Assistant Director Rodelo Romero of the Department of Energy's Oil Industry and Management Bureau,
00:30 the impending oil price hike is due to less oil production of Saudi and Russia,
00:35 as well as the slow economic growth of China and the restriction for crude oil supply in the United States.
