Oil prices seen to go up

Metro Manila, December 19 ------ Expect pump prices to go up after almost a month of rollbacks.

Oil firms could hike diesel prices by P2.20 to P2.30 per liter, according to a forecast of Unioil Petroleum Philippines. Gasoline, meanwhile, could increase by P0.40 to P0.50 per liter. The expected hike follows a series of price cuts, including a major rollback last Dec. 13.

The Energy Department's latest monitoring shows gasoline prices have so far risen by P13.25 per liter this year, P24.60 for diesel, and P19.15 for kerosene.

Source: cnnphilippines.com