Metro Manila (CNN Philippines, October 15) — Per-liter prices of oil products are going up again next week, the Unioil Petroleum Philippines announced Saturday.
According to the forecast, oil companies are expected to raise per-liter prices of diesel by ₱2.60 to ₱2.80, and gasoline by ₱0.80 to ₱0.90.
The Department of Energy (DOE) said oil companies on Oct. 11 implemented a per-liter increase in the price of gasoline by ₱1.20, diesel by ₱6.85 and kerosene by ₱3.50.
Last week’s price increase came after five consecutive weeks of rollback.
According to the DOE, the previous hike led to the year-to-date total adjustments to stand at a net increase of ₱15.65 per liter for gasoline, ₱35.80 per liter for diesel, and ₱26.75 per liter for kerosene.
World oil prices also surged to a one-month high in the latest week following the announcement of the OPEC+ to cut two million barrels per day in the group’s production quotas from November as a move to boost oil prices, the DOE said.
