Metro Manila, Philippines – Motorists should brace for another round of fuel price hikes next week, estimates by the Department of Energy (DOE) showed on Friday, Sept. 27.
The DOE said gasoline prices will likely increase by up to P0.60 per liter, while diesel and kerosene prices could rise by up to P0.90 and P0.50, respectively.
The agency cited various reasons behind the increase, including the uncertainty in oil supply due to escalating tensions in the Middle East and the latest “economic stimulus” pumped by China.
Oil firms implemented more than a P1-hike in gasoline prices and a P0.20 increase in diesel costs on Tuesday, Sept. 24.
NewsWatch Plus Correspondent Lance Mejico contributed to this report.
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