Fuel prices may increase next week

The prices of petroleum products may increase by as much as P1 per liter next week, industry players said.

Based on the forecast of Unioil on Saturday, the prices of gasoline may climb by 80 centavos to P1 a liter. Diesel may also inch up by 10 centavos to 30 centavos per liter.

Meanwhile, according to estimates from Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, gasoline prices may increase by 40 centavos to 90 centavos per liter. Diesel and kerosene may also have an upward adjustment ranging from 20 centavos to 40 centavos per liter, or none at all.

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Romero attributed the expected hikes next week to several external factors, including the US Fed Reserve’s “aggressive” interest rate cut and the Middle East conflict. —LISBET K. ESMAEL