Gasoline price to go up by almost P1 this week
MANILA, Philippines — Motorists should expect higher gasoline prices this week.
In its forecast, Unioil Philippines said gasoline is expected to increase this week.
“Diesel should remain the same and gasoline should increase by P0.80 to P0.90,” Unioil said.
This would be the fifth consecutive week gasoline prices will be increased.
At the start of this trading week, oil prices rose about one percent as the trade deal between the US and China is close to happening, according to a report by Reuters.
Meanwhile, OPEC ally Russia said it would ramp up its crude supply cuts, which is also seen to boost global prices.
By midweek, gasoline stocks fell 4.2 million barrels, pushing up US gasoline futures.
Last week, oil firms announced gasoline price increase of P0.10 per liter. Diesel prices, on the other hand, were rolled back by P0.10 per liter and kerosene by P0.35 per liter.
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