Motorists brace for another fuel price hike this week

·1 min read

DIESEL, gasoline, and kerosene prices are expected to increase anew in the coming week, industry estimates showed, marking the third straight week of hikes.

Based on its fuel forecast for June 21-27, 2022, Unioil said diesel will increase by P2.50 to P2.60 per liter, while gasoline will increase by P0.50 to P0.60 per liter.

Kerosene prices are also forecast to increase from P1.60 to P2 per liter starting Tuesday.

Oil companies usually announce fuel price adjustments every Monday, to be implemented the following day.

The world continues to bear the consequences of a tight petroleum supply amid the Russia-Ukraine conflict.

The rising fuel prices has also been attributed to the European Union’s partial ban of imports from Russia and the easing of restrictions in China.

If the new price hike is implemented this week, diesel prices would have increased by nearly P13 in the past three weeks.

Effective last June 14, fuel firms hiked gasoline prices by P2.15 per liter and diesel by P4.30 per liter.

That brought the year-to-date adjustments to stand at a net increase of P28.70 per liter for gasoline and P41.15 per liter for diesel.

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