Consumers must brace for a big-time oil price hike next week of as much as P2 per liter, which reflects
Industry estimates based on the four-day Mean of Platts Singapore benchmark showed that diesel may go up by P1.80 to P2 per liter, kerosene by P1.70 to P1.90 per liter, and gasoline by P1.15 to P1.35 per liter.
Diesel prices have gone up by P14.80 per liter while kerosene increased by P13.95 per liter for the past ten weeks.On Sept. 12, local oil companies implemented an increase of P0.20 per liter for gasoline, P0.40 per liter for diesel, and P0.20 per liter for kerosene. DOE director for the oil industry management bureau Rodela Romero confirmed the anticipated oil price increase next week and warned of possible oil price hikes until the end of the year.
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