Motorists lined up to fill up their tanks at a gas station in Cebu City hours before the big-time increase in fuel prices took effect last week. /Photo by Carl Lorenciana
MANILA, Philippines — Motorists can expect another increase in fuel prices this week because of various geopolitical events outside the Philippines. Unioil predicts diesel will go up by 80 centavos to P1 per liter and gasoline by 20 to 40 centavos per liter.
Unioil estimated the price of diesel to increase by 80 centavos to P1 per liter and gasoline by 20 to 40 centavos per liter.
READ: Fuel prices up by P1.10 to P1.55 per liter effective April 9
Oil prices rise amid fears over escalating tensions in Middle East
DOE forecast
The Department of Energy’s (DOE) fuel price forecast on Friday was similar to Unioil although it was based on four-day trading in the global market.
It said gasoline prices might be unchanged or increase by 20 centavos per liter.
Diesel might go up by 80 centavos to P1 per liter and kerosene by 85 to P1 per liter.
Last week, oil companies jacked up the prices of petroleum products by as much as P1.55 per liter.
Year-to-date adjustment of gasoline, diesel and kerosene stand at a per liter net increase of P9.30, P6.05 and P1.40, respectively. —JORDEENE B. LAGARE