Around P2/liter increase forecast in 11th straight oil hike


Posted at Sep 16 2023 11:19 AM

MANILA — Experts forecast an around P2 per liter increase on fuel products as pump prices are seen to increase for the 11th straight week. 

Diesel and kerosene will have the largest hike of between P2.30-P2.60 per liter, and P2-P2.30 per liter respectively. 

Gasoline prices will increase by from P1.70 to P2. 

Experts continue to attribute this to production curbs set by Russia and Saudi Arabia. 

The recent spike in oil prices is expected to prompt companies into another wave of price increases for basic goods. 

Oil prices have not gone down since July.

— Report by Alvin Elchico, ABS-CBN News

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