Fuel price hike seen next week

Pump prices of petroleum products are seen to go up for another round in the coming week, Unioil Petroleum Philippines said Saturday.

In its fuel price forecast for July 16 to 12 trading week, Unioil said the price per liter of diesel may increase by P0.10.

Meanwhile, gasoline prices may hike by P0.50 to P0.60 per liter.

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

Latest data available from the Department of Energy shows that year-to-date adjustments stand at a net increase of P10.75 per liter for gasoline and P9.25 per liter for diesel as of June 22, 2021. -MDM, GMA News