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Oil companies hike prices

Financially draining days are up again for Filipino consumers as the prices of gasoline products are anticipated to rise by P1.30 to P1.50 per liter this week.

Diesel products, which are heavily depended upon by the country’s public transport sector, are also anticipated to have a price increase of P0.70 to P0.80 per liter.

These were based on the outcome of the four-day trading of fuel commodities in the world market last week, and actual price adjustments may still change depending on last Friday’s trading results.

The local oil companies are expected to increase prices at their retail pumps tomorrow as anchored on cost movements in the global market and the fluctuation in the Philippine peso-US dollar exchange rate. (Myrna Velasco)