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Oil prices to increase again this week

Metro Manila, January 30 ------ Motorists, take note! Fuel prices are expected to increase again next week, an oil firm said.

Unioil forecast that diesel prices may increase by P0.80 to P1.00 per liter, while gasoline costs may rise by P1.20 to P1.40 per liter. These will take effect on Jan. 31. Earlier this week, an oil price hike also took effect for diesel, gasoline, and kerosene.

In its latest fuel price monitor dated Jan. 24, the Department of Energy recorded a net year-to-date increase of P5.90 per liter for gasoline, P2.05 per liter for diesel, and P3.20 per liter for kerosene. A transport group, meanwhile, called the upward adjustment in oil prices "concerning." "Dapat kung ano mang galaw sa international market, hindi siya nag-aawtomatiko, said Mody Floranda, president of the Pagkakaisa ng mga Samahan ng Tsuper at Operator Nationwide (PISTON).

Floranda stressed the successive hikes in pump prices will have a domino effect not only on public transport drivers and operators but on consumers as well. "Malaki ang mawawala na dapat ay naiuwi na namin sa aming pamilya; dapat nadagdag na sa ipon namin," he said.



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