Big-time oil price hike next week
MOTORISTS should again brace for a much higher cost of fuel products next week with another big-time price hike, marking the 10th consecutive week of oil price increase since the start of 2022.
In its fuel forecast, Unioil said the price per liter of diesel may go up by P5.30 to P5.50 per liter, gasoline by P3.60 to P3.80 per liter, and kerosene by P4.00 to P4.10 per liter.
Major and independent oil firms usually announce the price increases of their petroleum products every Monday to be effective the following day.
Energy sources said Russia’s invasion of Ukraine has caused an energy price hike in the international oil market.
