Diesel prices seen to go up next week by at least P1.10/liter; gasoline may go up or down

Motorists may expect an increase in the prices of diesel in the coming week, and either a hike or rollback in the prices of gasoline based on forecasts from an oil industry source and a fuel company.

According to an oil industry source, the prices of diesel may go up by P1.10 to P1.30 per liter, while gasoline prices may go down by P0.05 per liter.

Fuel company Unioil meanwhile said diesel prices for June 28 to July 4 may increase by P1.20 to P1.40 per liter, and those of gasoline may hike up by P0.10 to P0.20 per liter.

Atty. Rino Abad, director of the Department of Energy's Oil Industry Management Bureau, on Friday said there may be an increase in the prices of diesel and kerosene next week due to the Philippine peso's current performance against the US dollar. Gasoline prices, meanwhile, may stay the same or be rolled back a bit, he said.

On Tuesday, June 21, fuel companies hiked the prices per liter of gasoline by P0.80, diesel by P3.10, and kerosene by P1.70, marking the third straight week of fuel price hikes. —KG, GMA News