Danessa Rivera (The Philippine Star)
- September 15, 2019 - 12:00am
MANILA, Philippines — Oil companies
are implementing hefty price hikes on fuel products next week.
In its weekend advisory, Unioil
Philippines said it expects fuel prices to increase amid easing tension between
the US and China.
It said diesel prices would go up by
70 to 80 centavos per liter while gasoline would increase by P1.20 to P1.30 per
liter.
International crude prices rose last
week as the trade tension eased between China and the US, while US crude
inventories dropped to their lowest in almost a year, Reuters reported.
The price hike will follow three
consecutive weeks of price cuts on pump products.
Last week, local oil firms rolled
back gasoline by 50 centavos per liter, diesel prices by 10 centavos and
kerosene by 25 centavos.
Latest Department of Energy data
showed year-to-date adjustments stand at a net increase of P4.16 per liter for
gasoline, P3.17 per liter for diesel and P1.01 per liter for kerosene.
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