Pump prices are expected to go up by as much as 65 centavos per liter fore diesel this week as world oil prices rise.
“Expect fuel prices to go up (week of December 3 to 9). Diesel should go up by P0.55 to P0.65 per liter. Gasoline should go up by P0.25 to P0.35 per liter,” Unioil Philippines said in its advisory.
World oil prices have remained volatile amid the continuing US-China trade war, which could affect global demand.
READ: All eyes on US-China trade spat
The oil firms already raised the price of cooking gas or liquefied petroleum gas (LPG) by P0.25 per kilo on Dec. 1 due to the higher contract price of LPG in the world market.
“ Petron will implement a P0.25/kg increase in LPG prices effective 12:01 am, Dec. 1,” the company said in a statement.
Oil firms adjust pump prices weekly but adjust LPG prices on a monthly basis.
On Nov. 26, the oil firms cut the price of gasoline by P0.20 per liter and kerosene and diesel by P0.10 per liter effective. A week before that, on Nov. 18,19 and 20, most of the oil companies raised the price of gasoline by P0.80 to P0.85 per liter.
The oil firms, however, cut the price by P0.15 to P0.30/liter for diesel and by P0.20-P0.25 per liter for kerosene.
READ: Oil prices: Gasoline up, diesel down
READ: Oil firms shift gears, cut gas price by P0.20