Oil firms seen to raise fuel prices next week – forecast

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Metro Manila (CNN Philippines, May 20) — Fuel firms are expected to implement another round of increase in the prices of petroleum products starting May 23, according to the forecast of Unioil Petroleum Philippines.

Oil companies may raise prices of diesel by ₱0.50 to ₱0.70 per liter and gasoline by ₱0.70 to ₱0.90 per liter.

Early this week, the price of gasoline went up by ₱0.35 per liter, diesel by ₱1.40 per liter, and kerosene by ₱1.20 per liter.

As of May 16, according to the Department of Energy's oil monitor, there have been per liter increases of ₱4.20 for gasoline, ₱5.65 for diesel, and ₱6.30 for kerosene since the start of 2023.