{"id":97389,"date":"2017-04-07T21:45:10","date_gmt":"2017-04-08T01:45:10","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=97389"},"modified":"2017-04-07T21:45:10","modified_gmt":"2017-04-08T01:45:10","slug":"oil-prices-likely-to-rise-by-50-centavos-to-php1-next-week-doe","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/04\/07\/oil-prices-likely-to-rise-by-50-centavos-to-php1-next-week-doe\/","title":{"rendered":"Oil prices likely to rise by 50 centavos to PHP1 next week: DOE"},"content":{"rendered":"<figure id=\"attachment_96300\" aria-describedby=\"caption-attachment-96300\" style=\"width: 957px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/12401637_735751943193074_2467711730262521347_o.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-96300\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/12401637_735751943193074_2467711730262521347_o.jpg\" alt=\"Oil prices are likely to increase by PHP0.50 to PHP1.00 next week due to an extension of the production phase of the Organization of the Petroleum Exporting Countries (OPEC), a Department of Energy (DOE) official has said. (Photo: Department of Energy\/ Facebook)\" width=\"957\" height=\"960\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/12401637_735751943193074_2467711730262521347_o.jpg 957w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/12401637_735751943193074_2467711730262521347_o-150x150.jpg 150w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/12401637_735751943193074_2467711730262521347_o-300x300.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/04\/12401637_735751943193074_2467711730262521347_o-768x770.jpg 768w\" sizes=\"auto, (max-width: 957px) 100vw, 957px\" \/><\/a><figcaption id=\"caption-attachment-96300\" class=\"wp-caption-text\">Oil prices are likely to increase by PHP0.50 to PHP1.00 next week due to an extension of the production phase of the Organization of the Petroleum Exporting Countries (OPEC), a Department of Energy (DOE) official has said. (Photo: <a href=\"https:\/\/web.facebook.com\/doe.gov.ph\/photos\/a.324296077671998.57220.324295137672092\/735751943193074\/?type=1&amp;amp;theater\">Department of Energy\/ Facebook<\/a>)<\/figcaption><\/figure>\n<p>MANILA\u2014Oil prices are likely to increase by PHP0.50 to PHP1.00 next week due to an extension of the production phase of the Organization of the Petroleum Exporting Countries (OPEC), a Department of Energy (DOE) official has said.\\<\/p>\n<p>Oil Industry Management Bureau (OIMB) director, Melita Obillo, said oil prices are very unpredictable and are dictated by movements in the world market.<\/p>\n<p>\u201dOil supply is okay. There was a decrease in the US inventory, and production is lower than expected. We might expect an increase of PHP0.50 to PHP1.00 but we do not expect it to go up to a peso,\u201d Obillo said.<\/p>\n<p>She added that part of the reason for the increase is the extension of the oil production phase of OPEC nations, which is normally from January to June.<\/p>\n<p>Since January, she said, gasoline has undergone a net increase of 4 centavos per liter; diesel has had a net rollback of 25 centavos; while kerosene has had a net rollback of PHP1.10.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u2014Oil prices are likely to increase by PHP0.50 to PHP1.00 next week due to an extension of the production phase &hellip;<\/p>\n","protected":false},"author":33,"featured_media":96300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[13287,349],"class_list":["post-97389","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-department-of-energy","tag-oil","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/97389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=97389"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/97389\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/96300"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=97389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=97389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=97389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}