Fresh fuel price hike set next week

Fuel prices continue to rise. —INQUIRER FILE PHOTO

Oil companies are poised to again increase the prices of petroleum products starting Feb. 18, industry sources said. Leo Bellas, Jetti Petroleum president, said on Saturday that diesel prices may increase by 40 centavos to 60 centavos. An even higher estimate was given for gasoline of as much as 80 centavos a liter. In a separate advisory from Rodela Romero, Department of Energy (DOE)-Oil Industry Management Bureau assistant director, she said the per-liter prices of gasoline may jump by 45 centavos to 75 centavos. Diesel may also have an upward adjustment ranging from 30 centavos to 60 centavos per liter. Kerosene prices are also seen to go up by 15 centavos to 30 centavos. Last week, fuel prices were slightly reduced by 10 centavos to 30 centavos. —LISBET K. ESMAEL