Fuel prices could rise by up to P1.70 per liter on Aug. 5
A fresh wave of pump price hikes is expected on Tuesday, Aug.5 . INQUIRER FILE PHOTO
MANILA, Philippines — A new round of hikes in fuel prices is expected to greet motorists next week.
In an advisory on Friday, Jetti Petroleum president Leo Bellas said diesel prices could go up by 80 centavos to P1 a liter. Meanwhile, gasoline is seen to increase by P1.50 to P1.70 per liter.
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Rodela Romero, assistant director of the Department of Energy-Oil Industry Management Bureau, also projected higher pump prices.
Romero said gasoline prices could have the biggest jump in prices at more or less P1.50 per liter.
Diesel may also see an increase of more or less P1 a liter. Kerosene could be more costly by more or less 80 centavos.
Romero said the potential price hikes could be influenced by the “renewed concerns over supply disruptions following US President Trump’s sanction on Russia and Iranian oil.”
Fuel retailers adjust pump prices every Tuesday.
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Meanwhile, Petron Corp. said it has implemented a price cut of P2.50 per kilogram of liquefied petroleum gas or LPG starting Friday midnight.
“This reflects the international contract price of LPG for the month of August,” the company said.
/rwd
