New fuel price hike expected next week

FILE PHOTO: A gasoline attendant grabs the fuel nozzle at a gas station in Kalayaan Avenue, Quezon City on May 25, 2020. —NIÑO JESUS ORBETA

Another round of fuel price hikes is expected next week amid supposed supply pressures and the drop in US oil inventories, according to industry sources.

In an advisory on Saturday, Jetti Petroleum said diesel prices could go up by 65 centavos to 85 centavos, while gasoline is expected to increase by P1.10 to P1.30 per liter.

Rodela Romero, assistant director of the Department of Energy-Oil Industry Management Bureau, also said pump prices could have upward adjustments of up to P1.40 a liter.