Oil firms are expected to raise fuel prices next week, the Department of Energy (DOE) said Friday, Aug. 26.
Motorists will likely face fuel price hikes, given the higher demand for the petroleum products, Assistant Director Rodela Romero of the DOE – Oil Industry Management Bureau said at the “Laging Handa” briefing.
Romero said diesel and kerosene prices could go up by P5 per liter, while gasoline prices may increase by “more than” a peso per liter.
“Bagama’t ayaw namin magbigay ng exact na price pero siguro medyo may kalakihan,” she said.
Romero said fuel prices are controlled by market trading.
“So, hintayin po natin kung ano iyong magiging impact nitong trading na ito sa adjustment for Tuesday (Aug. 30),” she said.
The price adjustments in petroleum products are usually announced by oil companies every Monday and implemented the following day.
On Aug. 23, fuel firms implemented a per-liter increase of P0.70 for gasoline, P2.60 for diesel, and P2.80 for kerosene, based on DOE data.
Following the latest oil price hikes, the year-to-date total adjustments stand at a net increase of P18.15 per liter for gasoline, P31.70 per liter for diesel, and P27.10 per liter for kerosene.PNA
