Another pump price hike looms next week

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Metro Manila (CNN Philippines, September 2) — Fuel prices are expected to go up again on Tuesday, an oil firm warned motorists.

Based on a forecast by Unioil Petroleum Philippines on Saturday, per-liter diesel prices are seen to increase by ₱1 to ₱1.20 from Sept. 5 to 11, marking the ninth straight week of price hikes since July 10.

The oil firm said the cost of gasoline may stay the same, although it also warned of a possible 30- to 50-centavo increase per liter.

Meanwhile, another industry source said gasoline prices may rise by 10 to 50 centavos per liter, while diesel prices may go up by 75 centavos to ₱1.15.

The Department of Energy said price adjustments have so far resulted in a year-to-date net increase of ₱14.80 per liter for gasoline, ₱9.50 per liter for diesel, and ₱6.64 per liter for kerosene.