Diesel to go up by P3.70-P3.90 per liter next week —Unioil

Another major price hike is expected for diesel next week, according to Unioil Petroleum Philippines on Saturday. 

In an advisory, Unioil said diesel will increase by P3.70 to P3.90 per liter, while gasoline will increase by P0.20 to P0.40 per liter.

This comes just a week after a major pump price hike of P3.50 for diesel,  P2.10 for gasoline, and P3.25 for kerosene.

It's also the fifth straight week of increases for diesel and kerosene and the fourth for gasoline.

Unioil's price adjustment is similar to the estimate of the Oil Industry Management Bureau which said that the price per liter of diesel may go up by P3.40 to P3.60.

An oil industry source, likewise, said diesel prices may surge by P3.40 to P3.60 per liter, while gasoline prices may rise by P0.10 to P0.30 per liter.

Oil Industry Management Bureau Assistant Director Rodela Romero attributed the anticipated hike in fuel prices to Saudi Arabia’s announcement of a production cut. —Jamil Santos/ VAL, GMA Integrated News