Oil firms to increase pump prices

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OIL companies are expected to raise prices of petroleum products this week.

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According to industry sources, the oil firms may hike diesel prices by 70 to 80 centavos per liter.

Gasoline prices are expected to increase by 15 to 20 centavos per liter and kerosene prices by 80 to 90 centavos per liter.

The expected price adjustments are primarily driven by movement in world oil prices.

The oil companies usually make a formal announcement of price changes every Monday, with the new prices taking effect the following day.

If the adjustments materialize, it would be the second time for the companies to raise prices this month.

The oil firms last week also increased gasoline prices by 25 centavos per liter and kerosene by 10 centavos per liter.

RITCHIE A. HORARIO

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