MANILA, Philippines — Motorists should brace for another round of fuel price hikes as oil companies are raising pump prices again this week, Unioil Philippines forecasted.
“Diesel should increase by P0.75 to P0.85 per liter. Gasoline should increase by P0.90 to P1.00 per liter,” it said.
In the past trading week, global oil prices reached nearly their 13th month high as US output continued to lag after the deep freeze in Texas, a report by Reuters said.
Last week, local oil players raised gasoline prices by P1.20 per liter, diesel prices by P0.95 per liter and kerosene prices by P1.00 per liter.
These price movements resulted in year-to-date adjustments to stand at a net increase of P5.20 per liter for gasoline, P4.85 per liter for diesel and P4.35 per liter for kerosene.