Oil firms are poised to implement a price hike next week, according to Unioil Petroleum Philippines.
Diesel prices may rise by P1.30 to P1.50 per liter while gasoline may go up by P1.10 to P1.30 per liter.
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The forecasted oil price hike will wipe out the price cut implemented by the oil firms on June 6.
Oil companies earlier implemented a per liter decrease of P0.60 per liter for gasoline and kerosene and P0.30 per liter for diesel.
These price adjustments resulted in a year-to-date net decrease for diesel at P5.35 per liter and kerosene at P7.35 per liter.
Gasoline, on the other hand, has a net increase of P5.50 per liter.
