Experts predict P2/liter fuel price hike for 11th straight week

Experts forecast an around P2 per liter increase in fuel prices for the 11th straight week due to production curbs by Russia and Saudi Arabia.

Diesel is expected to have the largest hike, ranging from P2.30-P2.60 per liter, followed by kerosene at P2-P2.30 per liter, with gasoline increasing by P1.70 to P2 per liter.

According to Rodela Romero of the DOE-Oil Industry Management Bureau, based on Platts Singapore trading data, diesel prices may increase by P1.80 to P2.00 per liter and kerosene by P1.70 to P1.90 per liter next week.

Gasoline prices are predicted to rise by P1.15 to P1.35 per liter, marking the 10th consecutive week of increases for gasoline and the 11th for diesel and kerosene.