Oil firms seen hiking pump prices

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OIL firms are expected to raise prices of gasoline and kerosene this week and lower those of diesel, which is primarily used by public utility jeepneys or PUJs.

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According to sources, gasoline prices are expected to be increased by 10 to 20 centavos per liter and kerosene prices by 10 to 15 centavos per liter.

Diesel prices, are seen to be lowered by 10 to 15 centavos per liter.

Oil companies usually make the formal announcement on price adjustment on Mondays.

The price adjustment usually takes effect from 12:01 a.m. and 6 a.m. of the following day.

Last week, oil companies also increased diesel and kerosene prices by 10 centavos per liter and gasoline prices by 50 centavos per liter.

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