Fuel prices to go up next week - DOE

Metro Manila, Philippines – Higher pump prices will likely greet motorists next Tuesday after a week of rollback, projections of the Department of Energy showed on Friday, Aug. 30.

The DOE said gasoline prices may increase by up to P0.45 per liter.

Diesel costs may also go up by P0.20 per liter, while kerosene may climb by up to P0.55 per liter.

The agency attributed the hike to the escalating geopolitical tensions and a “sudden halt” in Libyan oil production and exports.

Just this week, oil companies implemented big-time price cuts, slashing pump prices by over P1 per liter.