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Motorists should brace anew for another round of increase in the retail prices of petroleum products to be implemented on the coming week.Citing industry estimates, based on international trading in the past four days, Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said that “domestic pump prices are expected to increase next week.”The estimated pump price adjustments are as follows: Gasoline - P0.30 to P0.60 per liter Diesel - P0.65 to P0.
50 per liter The Energy official cited the following developments which influenced the movement in petroleum prices: Uncertainty in supply underpinned by an escalation in Middle East hostilities Latest economic stimulus of China, offsetting weak demand growth from Europe US crude inventory draw is a bullish signal indicating tightening global suppliesOil companies usually announce price adjustments every Monday, to be effective on the following day.
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