Fuel price hike seen next week

After a series of rollbacks, oil companies are expected to implement an upward adjustment in the prices of petroleum products, which may reach around P1 per liter next week.

According to Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, fuel retailers may increase the per-liter price of gasoline by 65 centavos to 90 centavos.

The prices of diesel and kerosene, meanwhile, may also go up by 95 centavos to P1.10 a liter.

In a separate advisory over the weekend, Unioil projected that the prices of diesel may inch up by P1 to P1.30 per liter. Gasoline prices may also jump by 80 centavos to P1 a liter.