MANILA, Philippines — Oil companies are poised to implement another big-time fuel price hike next week with prices expected to climb by P6 to P6.30 per liter while those of gasoline may increase by P1.10 to P1.40 per liter, oil companies and officials confirmed on Friday. Philippine prices of diesel and kerosene have been on the downtrend for five consecutive weeks. Last week, local gasoline prices went up by 40 centavos per liter, diesel by 45 centavos per liter and kerosene by 85 centavos per liter. Cumulative increases stand at P14.45 per liter for gasoline, P28.95 per liter for diesel and P23.25 per liter for kerosene, based on the Department of Energy’s monitoring. RELATED STORIESADVERTISEMENTOPEC+ agrees to deep oil production cuts, Biden calls it shortsightedOil heads for weekly gain after OPEC+ cut despite economy headwindsMeralco hike due to pricey fuel, peso fallRead Next

Source: Philippine Daily Inquirer October 09, 2022 08:06 UTC