Big time fuel price hike expected next week

Motorists will brace for big time increases in the pump prices of petroleum products next week, the Department of Energy said on Saturday.

In its consumer advisory, the DOE estimated the price increase on gasoline at P1 per liter while diesel and kerosene may hike by P0.90 per liter and P0.95 per liter, respectively.

The Energy department said last week’s international oil trading may affect the domestic prices of fuel product.

It said the latest price adjustments may be implemented on Tuesday.

Price adjustments may still change by the Friday trading activities which will be accessed on Monday, the DOE said. —ALG, GMA News