Big-time fuel price hike seen next week

After last week's rollback, pump prices are seen to go up big-time in the coming week, Unioil Petroleum Philippines said Saturday.

In its fuel price forecast for March 16 to 22 trading week, Unioil said the price per liter of gasoline may go up by P1.10 to P1.20.

Diesel prices, meanwhile, may increase by P0.80 to P0.90 per liter.

Oil companies usually announce fuel price adjustments every Monday, to be effective on the next day.

On March 9, fuel firms implemented a price rollback of P0.10 per liter for gasoline and P0.35 per liter for diesel.

Data from the Department of Energy showed the prevailing prices of gasoline in Metro Manila range from P41.50 to P55.90 per liter, while diesel prices range between P34.00 and P41.41 per liter.

Year-to-date price adjustments stand at a net increase of P6.10 per liter for gasoline and P5.35 per liter for diesel. — DVM, GMA News