Planning to gas up? You may want to do so soon, because local gasoline and diesel prices may jump up again.
According to a new report by GMA News, local gasoline prices could go up by as much as P3.30/L next week, while diesel prices may rise by as much as P4.40/L.
The update was provided to the news outlet by a source within the oil industry. The information is in line with Department of Energy (DOE) Oil Industry Bureau director Rino Abad’s recent confirmation that the country is due for another big-time fuel hike.
“Kino-confirm po namin ’yan na may nakaambang pagtaas at medyo malakihan po ang pagtaas next week,” Abad said during a recent interview with Dobol B TV.
If this report turns out to be true, next week will see the largest hike in Philippine fuel prices since gas and diesel went up by P3.4/L and P8.65/L, respectively, in late March.
So, yeah, it might be time to fill up—not just to take advantage of current fuel rates, but to avoid potentially having to line up at the pump the night before the price hike goes into effect. Hey, time is money.