Pump prices may rise by up to P5/L next week

Pump prices of petroleum products are expected to rise for the second straight week next Tuesday, based on movements in global prices.

According to an oil industry source, gasoline prices could rise by P2.00 to P4.00 per liter, and diesel by P3.00 to P5.00 per liter, based on the average Mean of Platts Singapore (MOPS) and foreign exchange trading from September 7 to September 9.

The actual price adjustments will be announced on Monday, September 14, and take effect on Tuesday, September 15.

Firms this week hiked prices per liter of gasoline P4.69, diesel by P5.18, and kerosene by P5.58.—AOL, GMA News