DOE: Fuel prices to rise next week; gasoline up P0.60-P1, diesel P0.10-P0.50, kerosene P0.10-P0.30
Motorists should prepare for an increase in the retail prices of petroleum products next week due to recent international trading trends.
Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero cited rising tensions in the Middle East and Beijing's fiscal stimulus measures as factors contributing to higher fuel costs.
The estimated price hikes per liter are: gasoline by P0.60 to P1.00, diesel by P0.10 to P0.50, and kerosene by P0.10 to P0.30.
Fuel firms will finalize the adjustments after Friday's trading and officially announce them on Monday for implementation the following day.
Effective Tuesday, March 18, oil companies rolled back diesel prices by P0.20 per liter and kerosene by P0.40 per liter, marking a third consecutive week of price decreases.
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