Fuel price hike seen next week

Another round of increase in the prices of petroleum products will greet motorists next week, the Department of Energy (DOE) said on Saturday.

The DOE said the price of gasoline is expected to go up by P0.95 per liter.

The cost of diesel and kerosene may also increase by P0.55 per liter and P0.95 per liter, respectively.

Last week’s international oil trading may affect the domestic prices of petroleum products, according to the DOE.

Adjustments on petroleum products are implemented every Tuesday of the week and may still be affected by the Friday trading activities which will be accessed on Monday.

Latest available data showed that diesel prices currently range from P31.20 to P36.60 per liter, and gasoline from P42.55 to P52.41 per liter. —ALG, GMA News