Published: Saturday 12 May, 2018

Oil Price Increase: Higher Gasoline, Diesel Prices Expected by May 15

Hold on to your wallets! An oil price increase is expected this coming week. Gasoline, diesel and kerosene prices are predicted to increase in the nest round of price adjustments due on Tuesday, May 15.

The increase is unwelcome but understandable. The price of oil has risen internationally the past week, brought about by renewed conflict in the Middle East, especially Iran. US president Trump pulled out of the nuclear deal and there are sporadic attacks between Israel, Iran and Syria. 

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According to predictions, the price increase will be as follows: P0.95-P1.05 per liter for gasoline, P0.95-P1.05 per liter for diesel and P0.80-P0.90 per liter for kerosene.

The official price increase will be announced by local oil companies on Monday, which will then be effective on Tuesday. 

UPDATE: As predicted, the prices of gasoline, diesel and kerosene will go up tomorrow. Here are the official price increases as announced by the local oil cartel Monday.