Prices of petroleum products are set to increase this week.
According to industry sources, oil firms may hike gasoline prices by 40 to 50 centavos per liter.
Kerosene prices are also expected to be jacked up by 10 to 15 centavos per liter and diesel prices by 10 centavos per liter.
Oil companies usually make formal announcement about the price adjustments every Monday, with the price changes taking effect Monday evening or the following day.
The expected price adjustments are primarily driven by movement in world crude prices.
RITCHIE A. HORARIO