AFTER the recent round of fuel pump price reductions, motorists need to brace for an upward adjustment in the prices of petroleum products this week.
In its fuel price forecast for March 7 to 13, Unioil Petroleum Philippines said the price per liter of diesel and kerosene may increase by P1.30 to P1.50.
Gasoline prices, meanwhile, may go up by P0.10 to P0.30 per liter.
Oil companies usually announce price adjustments every Monday, to be implemented on the following day.
Last Tuesday, Feb. 28, fuel firms implemented a per-liter decrease of P0.70 for gasoline, P1.30 for diesel, and P1.80 for kerosene.
Industry experts claim the potential increase this week is due to a spike in oil demand in China as its economy recovers anew.
The increase in prices of imported fuel is tempered by the fears of further interest rate hikes and higher crude and finished product inventory of the United States. (GMA Integrated News)
