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Motorists should tighten their belts once more as fuel pump prices are expected to go up big-time next week.International petroleum trading in the past four days indicate an over P2 per liter hike to be implemented on Tuesday, October 15, 2024, according to an oil industry source.The estimated upward pump price adjustments are as follows: Diesel - P2.50 to P2.70 per liter Gasoline - P2.30 to P2.
Overall, the increase is due to higher crude prices, which may stay elevated because of the Middle East tension,” the source added.Fuel firms announce official price adjustments every Monday, to be implemented on the following day.Effective Tuesday, October 8, oil companies hiked the prices of diesel and kerosene by P1.20 per liter and P0.70 per liter, respectively, while no change was effected for gasoline.
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