Another Oil Price Hike Seen Next Week as Diesel May Jump by 1.40 Pesos per Liter

Oil prices continue to climb, with the upward trend persisting over the past few weeks as the market finds more reasons to push prices higher. According to industry experts, motorists should brace for another oil price hike next week, with diesel expected to increase by as much as ₱1.40 per liter.

Kerosene is projected to follow with an increase of up to 80 centavos per liter, while gasoline is seen to rise by around 40 centavos per liter.

The main drivers behind the expected increase remain the same as in recent weeks, compounded by higher demand for oil and other contributing factors in the global market.

Local oil companies are set to announce the final price adjustments on Monday, with the new prices taking effect the following day, Tuesday.