No reprieve from higher pump prices this Christmas

Metro Manila, Philippines - Motorists may have to shell out more during Christmas week as the Department of Energy (DOE) expects another round of hikes in fuel prices.

In its forecast announced on Friday, Dec. 20, the DOE said a hike of P1.10 to P1.40 in per-liter prices of diesel is likely next week.

The agency also said kerosene may go up by P0.90/liter to P1/liter, while P0.35/liter to P0.70/liter for gasoline.

Oil companies will implement the price adjustment on Tuesday, Dec. 24.

The DOE said a strong dollar and lower United States’ crude oil stocks may affect the price movement of fuel products.

Energy officials said the total adjustment of gasoline and diesel stood at a net increase of P12.55/liter and P9.85/liter, respectively. Kerosene has a net decrease of P2.55/liter.