Pump prices expected to go up again this week

Industry sources on Sunday warned the public of a possible oil price increase this week as tension in Iraq continues.

Quoting industry sources, GMA News "24 Oras" reported that gasoline and diesel prices this week would hike by at least P0.60 per liter and P0.25 per liter, respectively.



Last week, gasoline, kerosene, and diesel prices increased by more than P1.

Transport groups warned that if diesel prices reach P45/L, they will ask the government to increase the minimum fare to P10 from P8.50.

Currently, diesel prices were at P44/L.

Transport groups also plan to ask for the minimum jeepney fare to be raised to P12 if diesel prices go up to P50/L.

"Padadamahin muna tayo bago sisipain saka tayo tatadyakan sa presyo," Pasang Masda national president Obet Martin said.

"Pasensya na po sa mananakay per di po namin ito kasalanan. Kasalanan po ito ng Big Three (Shell, Petron, and Chevron), at ng ating gobyerno. Dapat umaaksyon sila sa mga ganitong mabigat na sitwasyon," he said.

The oil industry has been deregulated since 1998. — Rouchelle R. Dinglasan/JDS, GMA News