Industry sources indicate that petroleum product prices could rise by up to P1 per liter next week.
Unioil forecasts that gasoline prices may increase by 80 centavos to P1 per liter.
Diesel may also inch up by 10 centavos to 30 centavos per liter.
Meanwhile, according to estimates from Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, gasoline prices may increase by 40 centavos to 90 centavos per liter.
READ: Fuel prices down by at least P1/liter anew starting Sept 17
Diesel and kerosene may also have an upward adjustment ranging from 20 centavos to 40 centavos per liter, or none at all.
Romero attributed the expected hikes next week to several external factors, including the US Fed Reserve’s “aggressive” interest rate cut and the Middle East conflict. —LISBET K. ESMAEL