Oil prices up next week
FOR the fifth consecutive week, motorists will experience another round of fuel price increases next week.
Based on the initial calculation of oil companies, the prices of diesel will go up by P0.60 to P0.70 centavos per liter, gasoline by P0.80 to P0.90 centavos per liter, and kerosene by P0.40 to P0.50 centavos per liter.
Local oil firms usually announce price adjustments on petroleum products every Monday, to be implemented on the following day, Tuesday.
Oil industry sources said the fifth consecutive week of price hikes was the result of the continued escalation of world oil prices following a production cut of oil-producing countries, including the United States.
