Fuel prices seen to increase next week

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Fuel News

Pump prices of fuel products are set to increase again next week due to the weaker peso and production cuts in the global oil market, according to the forecast of the Department of Energy (DOE).

Diesel prices are projected to increase by P0.35 to P0.55 per liter while gasoline could see an uptick between P0.45 and P0.65.MANILA, Philippines — Pump prices of fuel products are set to increase again next week due to the weaker peso and production cuts in the global oil market, according to the forecast of the Department of Energy .

Meanwhile, kerosene prices could increase by P0.45 to P0.60 per liter, according to the DOE’s estimates based on the recent four-day trading. Last Tuesday, oil companies implemented a per liter decrease in gasoline by P0.10. Prices of diesel and kerosene meanwhile increased by P0.25 and P0.3 per liter, respectively. The year-to-date adjustments of gasoline and diesel as of May 21 stood at a per liter increase of P7.15 and P4.45, respectively.

Davao City Rep. Paolo Duterte wants Congress to investigate extrajudicial killings and human rights abuses in the country over the past 25 years.

 

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