The regular-grade gasoline prices are expected to stay at an average record of US$ 3.66 per gallon this summer or could rise to US$ 3.73 per gallon in the US, says EIA.
The Philippines government has been forced to import oil by the rising in-house demand that took its oil industry bills to $8.8 Billion in 2007 from $8.0 Billion in 2006.