Oil prices seen to jump by ₱2 next week

Metro Manila (CNN Philippines, January 5) — Fuel firms are expected to implement a big-time oil price hike next week, according to a forecast by Unioil Petroleum Philippines Inc. on Saturday.

Unioil said the price of gasoline may climb by ₱2.30 to ₱2.50 per liter while diesel may go up ₱1.00 to ₱1.20 per liter.

The price adjustments are expected from Jan. 30 to Feb. 5, it added.

According to the Department of Energy’s Jan. 23 data, the price adjustments have resulted in a year-to-date increase of ₱1.60 per liter for gasoline and diesel and a decrease of 40 centavos per liter for kerosene.