After a round of rollbacks, pump prices of petroleum products are expected to increase in the coming week, according to local oil industry sources.
In its fuel price forecast for the April 4 to 10 trading week, Unioil Petroleum Philippines said the price per liter of gasoline may go up by P1.20 to P1.40.Citing oil trading from March 27 to 28, an oil industry source told GMA News Online that diesel prices may be hiked by P0.30 to P0.50 per liter, while gasoline prices may be adjusted upwards by P1.30 to P1.50 per liter.
Romero attributed the anticipated fuel price increase to “an ease of tension brought about by the banking crisis, supply disruption in Turkey, inventory of US fell more than expected especially for gasoline and distillates, and a sign of strong demand in Asia due to China's recovery.”
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