Motorists and consumers should brace themselves for another round of price hikes in petroleum products, as projected by Unioil Petroleum Philippines.
Fuel companies are likely to implement increases starting May 23.
Based on forecasts, diesel prices may surge by ₱0.50 to ₱0.70 per liter, while gasoline prices could rise by ₱0.70 to ₱0.90 per liter.
This potential increase comes on the heels of recent price adjustments earlier this week when gasoline prices went up by ₱0.35 per liter, diesel prices increased by ₱1.40 per liter, and kerosene prices saw a ₱1.20 per liter hike.
The Department of Energy's oil monitor, as of May 16, reveals a notable rise in fuel prices since the beginning of 2023.
Gasoline prices have climbed by ₱4.20 per liter, diesel prices have surged by ₱5.65 per liter, and kerosene prices have increased by ₱6.30 per liter.
