Inquirer
Big-time oil price hike slated next week
Filipino consumers are set to face a significant fuel price increase next week after two consecutive rollbacks.
Industry estimates project price hikes of P1.10 to P1.30 per liter for gasoline and P1.60 to P2 per liter for diesel.
Kerosene prices may also climb by 95 centavos to P1.40 a liter.
Factors influencing these increases include the US-China agreement to temporarily remove tariffs, which could boost demand.
Additionally, US sanctions on companies involved in Iran's oil trade and a trimmed forecast for oil supply growth outside the wider OPEC+ group are contributing to the anticipated rise in pump prices.
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News Sources
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