Oil firms are poised to implement a price hike next week, according to Unioil Petroleum Philippines.
Diesel prices may rise by P1.30 to P1.50 per liter while gasoline may go up by P1.10 to P1.30 per liter.
The forecasted oil price hike will wipe out the price cut implemented by the oil firms on June 6.
Oil companies earlier implemented a per liter decrease of P0.60 per liter for gasoline and kerosene and P0.30 per liter for diesel.
These price adjustments resulted in a year-to-date net decrease for diesel at P5.35 per liter and kerosene at P7.35 per liter.
Gasoline, on the other hand, has a net increase of P5.50 per liter.