Fuel price hike seen this week

Metro Manila, May 15 ----- Companies on Monday announced decreases in the prices of oil products this week.

Motorists may anticipate an increase in fuel prices this week, Unioil Petroleum Philippines, Inc. said. According to the oil company's forecast, per-liter prices of diesel will go up by ₱1.30 to ₱P1.50 starting May 16.

Per-liter prices of gasoline are seen to rise by ₱0.30 to ₱0.50. Firms have implemented price rollbacks in the past three weeks. As of May 9, the Department of Energy locally monitored year-to-date net decrease for diesel and kerosene at ₱7.05/liter and ₱7.50/liter, respectively, while gasoline has a net increase of ₱3.85/liter.

Source: cnnphilippines.com