Fuel price hike expected this week
MANILA, Philippines — Oil companies are anticipated to raise the prices of petroleum products by less than a peso this Tuesday just a week after implementing a hefty rollback, according to industry sources.
The source pegged that the price of diesel may increase by 50 to 80 centavos per liter and gasoline by 30 to 60 centavos per liter.
Estimates were made based on the five-day trading average in the global oil market from Feb. 13 to Feb. 17.
Year-to-date net decrease stands at P2.15 per liter for diesel and 25 centavos per liter for kerosene while gasoline remains at a net increase of P5.10 per liter.