MOTORISTS have to brace for higher fuel costs this week as another round of hikes in the pump prices of petroleum products is expected to be implemented.
Citing oil trading from Jan. 16 to 19, an oil industry source revealed the price per liter of diesel may go up by P1.80 to P2.00.
Gasoline prices, meanwhile, may increase by P2.40 to P2.60 per liter.
However, according to a report on Saturday, Jan. 21, the price hike could be as high as P2.10 to P2.60 per liter for diesel and P2.95 to P3.45 per liter for gasoline.
Kerosene prices, meanwhile, will go up by P2.40 to P2.90.
Oil companies usually announce price adjustments every Monday, to be implemented on the following day.
Effective Tuesday, Jan. 17, fuel firms implemented the third adjustment for the year, increasing gasoline price by P0.95 per liter and diesel price by P0.50 per liter.
The latest price movements resulted in total adjustments for this year to stand at a net increase of P3.10 per liter for gasoline and a net decrease of P0.20 per liter for diesel. (GMA Integrated News)
