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Big-time hike in oil prices seen

  • Written by Jeffrey C. Tiangco
  • Published in Metro
  • Read: 346

OIL companies are poised to implement another big-time oil price hike or P1.50 per liter, particularly in diesel and kerosene.

This was disclosed by oil industry insiders, claiming that the increase will be announced any day this week.
   
The insiders said the increase per liter both in diesel and kerosene would range from P1.50 to P1.60 and P0.75 to P1 in gasoline.
   
The impending increase, once implemented, would be the eighth in the series that started first week of August.
   
It can be recalled that last August 23, oil companies implemented a big-time oil price hike or P1.45 per liter increase in diesel and kerosene.