After seeing significant rollbacks for several weeks in a row, it now looks like fuel prices are set to go back up again this week.
According to the latest advisories from various fuel companies, diesel will hike by a hefty P2.90 per liter. Gasoline prices, meanwhile, are only set to go up by P0.70 per liter. There go our chances of seeing smaller pump prices come Christmas.
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Following these upcoming price hikes, gasoline prices will have gone up by a net P13.95/L since the beginning of 2022, with prevailing retail pump prices ranging from P60.55 to P70.85 per liter for 91-octane gasoline. Diesel, meanwhile, has had a net price increase of P28.50/L, with current pump prices ranging from P65.45 to P74.40 per liter.
This year has been pretty rough for motorists, especially those with diesel cars. But who knows, maybe we’ll be seeing big rollbacks toward the end of the year? In any case, whether or not that happens, we’ll keep you posted.