INCREASES in the pump prices of petroleum products are expected to continue this week, according to a fuel company.
Unioil projected that gasoline prices would go up by P0.80 to P1.00 per liter, while diesel prices would rise by P0.10 to P0.20 per liter.
If this would push through, it would mark the seventh consecutive week that diesel prices have increased, while it would be the sixth consecutive week for gasoline.
Price adjustments are usually announced on Mondays and implemented every Tuesday.
On Friday, Aug. 18, Oil Industry Management Bureau Assistant Director Rodela Romero said the projected price adjustments this week are as follows:
* Gasoline – may increase by P0.90 to P1.20 per liter
* Diesel – may have no adjustment or an increase of P0.20 per liter
* Kerosene – may go up by P0.40 to P0.70 per liter
Romero cited industry estimates based on the four-day oil trading from Aug. 14 to 17.
The projected mixed movements on fuel pump prices are “attributed to the economic slowdown of China and the gradual decline in demand, signs of resurgent of US inflation, stronger dollar, and bigger than expected draw in US inventories,” Romero said. (GMA Integrated News)
