Motorists should brace for another round of oil price hike this week—the seventh consecutive week of upward adjustments this year—according to projections by Unioil Petroleum Philippines.
In its fuel price forecast for the February 15 to 21 trading week, Unioil said the price per liter of diesel may increase by P1.00 to P1.10 while gasoline may go up by P1.10 to P1.20 per liter.
Year-to-date adjustments stand at a total net increase of P6.75 per liter for gasoline and P9.15 per liter for diesel.
Last week, the price of kerosene also increased by P1.25 per liter, resulting in a year-to-date adjustment to stand at P7.20 per liter.
The Land Transportation Franchising and Regulatory Board (LTFRB), however, said imposing a fare increase in public utility vehicles after recent fuel price hikes is unlikely.
LTFRB chairperson Martin Delgra said the Department of Transportation is avoiding putting a burden on commuters.
“What we are doing here is to respond to the concern of our operators but without having a much more negative impact on commuters,” he said in an earlier interview.
Delgra confirmed the LTFRB received a petition to increase the minimum jeepney fare to P10 but said the DOTr is more inclined to assist in meeting the financial needs of the public transport sector through service contract programs and “Pantawid Pasada” cash aid than a fare hike.