Another round of fuel price hike expected before weekend

Fuel prices are expected to increase for the second time this week, a report from GMA's “24-Oras” said on Thursday.

Citing industry sources, the report said the expected increase in the cost of gasoline would be P1.10 per liter; diesel, P1.50; and kerosene, P1.20.

The report added that prices may further increase depending on the movement of prices in the world market.

The Department of Energy earlier pointed to the ongoing turmoil in Iraq as a major factor in the increase in the cost of fuel worldwide. —Andrei Medina/NB, GMA News