Oil prices up next week
MANILA, Philippines — After rolling back pump prices last week, oil companies are expected to raise fuel prices this week.
In its forecast, Unioil said motorists should expect fuel prices to go up next week.
“Diesel should go up by P0.25-P0.35. Gasoline should have no price movement,” it said.
The price hike will follow the minimal fuel price reduction implemented last week.
In the past trading week, global oil prices dipped at the start of the week following the drop in Chinese exports and increase in US crude inventories.
Oil prices, however, rebounded to its highest in nearly three months amid hopes of resolving the US-China trade dispute, Reuters reported.
In the local market, year-to-date adjustments stand at a net increase of P6.47 per liter for gasoline, P3.76 per liter for diesel and P0.61 per liter for kerosene, data from the Department of Energy showed.
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