Philstar
Expect higher fuel prices next week
Diesel and kerosene prices are expected to increase next week, with diesel projected to rise by P0.50 to P0.70 per liter and kerosene by P0.35 per liter, according to oil industry experts.
Gasoline prices may decrease by around P0.35 per liter, though this might not be reflected in local prices due to operating costs incurred by oil companies.
The expected price hike is attributed to Ukraine's recent drone strike on Russia's Black Sea port, a key export hub.
Sanctions imposed by the United States on Russian oil majors over Moscow's continued invasion of Ukraine also contribute to the fuel price fluctuations.
Oil firms recently implemented significant price hikes, with gasoline, diesel, and kerosene prices increasing by P1.70, P2.70, and P2.10 per liter, respectively.
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