Another oil price hike set on January 30

MANILA, Philippines — For the fourth consecutive week, pump prices are expected to increase in the last week of January.

Citing four-day trading prices, the Department of Energy said gasoline prices are expected to rise from P1.95 to P2.10 per liter, while diesel prices are expected to hike from P0.65 to P0.85 per liter. 

Kerosene prices, on the other hand, could increase by P0.20 to P0.30.

Last week, oil companies also implemented an increase in pump prices. Diesel prices were up by P0.95 per liter while gasoline prices increased by P1.30 per liter.

Kerosene prices did not have any movement last week. 

Final price adjustments will be announced by oil firms on Monday and will take effect on Tuesday.