Fuel prices seen to go up big-time for 9th straight week

Motorists shall again brace for another round of increase in the prices of petroleum products in the coming week, which could be the ninth straight round of price hikes, projections by Unioil Petroleum Philippines showed Saturday.

In its fuel price forecast for the October 26 to November 1, 2021 trading week, Unioil said the price per liter of gasoline may increase by P1.10 to P1.20.

Diesel prices, meanwhile, may go up by P0.40 to P0.50 per liter.

Fuel firms usually announce price adjustments every Monday, to be implemented on the following day’s morning.

Last Tuesday, October 19, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. increased the prices per liter of gasoline by P1.80, diesel by P1.50, and kerosene by P1.30. 

Cleanfuel, Petro Gazz, Phoenix Petroleum Philippines Inc., and PTT Philippines Corp. implemented the same changes, excluding kerosene which they do not carry.

Year-to-date adjustments stand at a total net increase of P19.65 per liter for gasoline, P18.00 per liter for diesel, and P15.49 per liter for kerosene. —Ted Cordero/KG, GMA News