Oil prices expected to increase again next week

Metro Manila (CNN Philippines, January 28) — Motorists, take note! Fuel prices are expected to increase again next week, an oil firm said on Saturday.

Unioil forecast that diesel prices may increase by ₱0.80 to ₱1.00 per liter, while gasoline costs may rise by ₱1.20 to ₱1.40 per liter. These will take effect on Jan. 31.

Earlier this week, an oil price hike also took effect for diesel, gasoline, and kerosene.

In its latest fuel price monitor dated Jan. 24, the Department of Energy recorded a net year-to-date increase of ₱5.90 per liter for gasoline, ₱2.05 per liter for diesel, and ₱3.20 per liter for kerosene.

Operators 'concerned'

A transport group, meanwhile, called the upward adjustment in oil prices "concerning."

"Dapat kung ano mang galaw sa international market, hindi siya nag-aawtomatiko, said Mody Floranda, president of the Pagkakaisa ng mga Samahan ng Tsuper at Operator Nationwide (PISTON).

[Translation: Fuel costs should not automatically increase every time global prices go up.]

Floranda stressed the successive hikes in pump prices will have a domino effect not only on public transport drivers and operators but on consumers as well.

"Malaki ang mawawala na dapat ay naiuwi na namin sa aming pamilya; dapat nadagdag na sa ipon namin," he said.

[Translation: We lose a big portion of our earnings which we could have taken home to our families and add to our savings.]

CNN Philippines' Currie Cator contributed to this report.