Ched Rick Gatchalian

Members of the military and their dependents queue for fuel at an exclusive gas station in Taguig City on June 6, 2022, a day before another round of oil price hikes. Diesel prices are expected to increase by up to P6.70 per liter and gasoline prices may rise up to P2.80 per liter, after the European Union announced the partial ban of Russian oil imports and increased consumption in the United States and China. Mark Demayo, ABS-CBN News

Article (news)

Gasoline prices may rise by almost P2 per liter next week

ABS-CBN News

MANILA — Motorists using gasoline will have to shell out more early this month, as an almost P2 per liter hike is expected next week based on this week&#x27;s trading.The following price changes are seen to take effect August 5, Tuesday:Gasoline:  P1.70 - P1.90/L  increaseDiesel:       P1.00 - P1.20/L increaseKerosene: P0.80 - P1.00/L increaseRodela Romero, assistant director of the DOE Oil Industry Management Bureau, earlier said the hike was caused by the United States’ sanctions on sellers of Russian and Iranian oil.The demand for gasoline is also currently strong in U.S. for its driving season.Another factor that influenced the increase was the weakening of peso against dollar.The prize freeze is still up for kerosene and LPG products in areas under state of calamity.<script data-wid="auto" type="text/javascript" src="https://content.viralize.tv/display/?zid=AAFz8gWM8iRADsJr&amp;cid=ABdlNY5Pz5NybxdA"></script>

Motorists using gasoline will have to shell out more early this month, as an almost P2 per liter hike is expected next week based on this week's trading.

Motorists using gasoline will have to shell out more early this month, as an almost P2 per liter hike is expected next week based on this week's trading.