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MANILA, Philippines — Local oil companies are expected to raise again the pump prices of gasoline by P1.60 per liter, diesel by P4.40 per liter, and kerosene by up to P4.90 per liter next week, according to industry sources.
This, however, does not yet include foreign exchange and biofuel cost components.
The peso depreciated to P53 to the US dollar on Friday, its lowest so far this year.
The expected increase in the price of petroleum products comes as the public continues to struggle with increasing costs of living.
—ROY STEPHEN C. CANIVEL
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