MANILA, Philippines – Fuel prices are expected to rise next week. Gasoline prices may increase by P2 to P4 per liter, while diesel is expected to go up by P3 to P5 per liter.
The fuel price hike next week may add more pressure to motorists and businesses affected by rising transportation costs.
The possible adjustment in fuel price hike is based on the peso-dollar exchange rate and the movements in international oil prices.
However, the possible price increase above remains an estimation and could still change before the final adjustment is publicly announced.
The fuel price increase is expected on September 15
The final fuel price adjustments are expected to be announced on Monday, September 14, before taking effect on Tuesday, September 15.
Some oil companies are expected to announce their respective fuel price increase adjustments after the Department of Energy (DOE) provides the final guidance based on the latest international oil price movements.
The final increase could be lower or higher than the current estimates depending on developments in the global oil market.
Motorists and businesses who are planning their fuel expenses for the coming week may want to monitor announcements from the Department of Energy and individual oil companies for the confirmed pump-price changes.
