There will be another oil price hike in the coming week.
This is based on international trading over the past four consecutive days.
The estimated price adjustments are as follows:
Gasoline: Expected to increase by P0.35 to P0.70 per liter
Diesel: Expected to decrease by P1.10 to P1.40 per liter
Kerosene: Expected to decrease by P0.90 to P1.00 per liter
According to Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero, the increase in fuel prices is attributed to the geopolitical climate in the Middle East and delayed output hikes by the Organization of the Petroleum Exporting Countries (OPEC).
The final price adjustments will be announced on Monday and will be implemented on Tuesday.
