Oil price hike looms amid Israel-Gaza conflict

ABS-CBN News

Posted at Nov 26 2012 05:46 PM | Updated as of Nov 27 2012 04:23 PM

MANILA, Philippines - Motorists may be in for disappointment as pump prices are threatening to rise this week. 

The Department of Energy says global oil prices climbed last week amid supply concerns due to tension between Israel and Gaza.

DOE director Zenaida Monsada says the oil price hike won't exceed P1 per liter. - ANC