Diesel, kerosene face ninth consecutive increase next week

National

MOTORISTS will have to deal with another round of fuel price hikes with diesel and kerosene set for a ninth consecutive weekly increase based on early industry estimates.

Local industry sources said diesel prices could rise by P0.40 to P0.60 per liter in the last week of February.

Gasoline prices, meanwhile, are expected to either remain unchanged or inch up by as much as P0.10 per liter. If gasoline prices move upward, it would extend their current streak of increases to seven weeks.

Kerosene is also projected to go up by about P0.10 per liter, although the final adjustment could be higher once oil companies factor in operating expenses and other applicable premiums.

“The expected adjustments for next week were heavily influenced by heightened geopolitical risks between the US and Iran, and Russia and Ukraine,” said Rodela Romero, assistant director at the Department of Energy, in a Philstar report.

Oil companies are scheduled to announce the official price adjustments on Monday, with changes taking effect the following day.

Earlier this week, fuel retailers raised gasoline prices by P1.20 per liter, while diesel and kerosene went up by P0.60 per liter.(MyTVCebu)