Motorists should prepare for another round of fuel price increases as oil companies announce a new wave of hikes effective June 9. The adjustment will see gasoline prices rise by P0.60 per liter, diesel by P0.50 per liter, and kerosene by P0.40 per liter.
The increases are attributed to rising global crude oil prices and a weaker peso, which makes imports more expensive. Local oil firms cited the ongoing production cuts by OPEC+ and geopolitical tensions as key factors driving the upward trend.
Industry analysts expect prices to remain volatile in the coming weeks, with potential further hikes depending on international market movements. Consumers are advised to plan their fuel purchases accordingly.