Unioil Petroleum Philippines, Inc. issued a statement on Saturday indicating a possible increase in fuel prices next week.

The oil company's forecast suggests that diesel prices could go up by ₱1.30 to ₱1.50 per liter starting May 16, while gasoline prices may increase by ₱0.30 to ₱0.50 per liter.

This news comes after several weeks of price rollbacks by various firms.

The Department of Energy has been monitoring the fuel prices and noted that as of May 9, there has been a year-to-date net decrease of ₱7.05 per liter for diesel and ₱7.50 per liter for kerosene.