Hefty hike in fuel prices expected next week

INQUIRER FILE PHOTO

MANILA, Philippines — A hefty fuel price hike awaits motorists next week, much bigger than last week’s increase.

Industry sources pegged the potential increase in the price of diesel at P1.90 to P2.20 per liter and gasoline at P2.80 to P3 per liter.

Unioil estimated the price of diesel might climb by P2.30 to P2.50 per liter and gasoline by P2.90 to P3.10 per liter.

Last week, oil companies jacked up gasoline prices by 95 centavos per liter and diesel by 50 centavos per liter while kerosene dropped by 15 centavos per liter.

So far, total adjustments this year stand at a net increase of P3.10 per liter for gasoline and 80 centavos per liter for kerosene while for diesel, the net decrease is 20 centavos per liter.

—JORDEENE B. LAGARE

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