Oil Prices to Climb Again: Diesel, Gasoline, and Kerosene Set for New Hikes

Going into its fifth consecutive week, diesel is set for another price hike, with experts estimating an increase of 60 to 80 centavos per liter. Gasoline is also expected to rise by 80 centavos to 1 Peso per liter, marking its sixth straight week of increases since prices began climbing more than a month ago.

Kerosene, commonly used for cooking and other household needs, is likewise projected to go up by 80 to a Peso per liter.

The reasons behind the continuous rise in oil prices remain the same, ongoing geopolitical tensions between Ukraine and Russia, along with market uncertainties that continue to influence global oil trading.

As usual, oil companies in the Philippines are expected to announce their final price adjustments on Monday, with the new prices to take effect the following day.