MANILA, Philippines — Oil companies are expected to implement a hefty increase on gasoline prices and a minimal hike on diesel this week. In its advisory, Unioil Philippines forecasted higher diesel and gasoline prices. During the past trading week, oil prices continued to rise on the back of production cuts of the Organization of Petroleum Exporting Countries (OPEC). More planned cuts to Saudi exports and a lower forecast for US crude output also propped up global crude prices. Last week, local oil firms raised gasoline prices by P0.90 per liter.

Source: Philippine Star March 16, 2019 16:00 UTC