JANUARY is poised to end with another adjustment at the fuel pump, as global oil prices continue to climb amid stronger demand and geopolitical risks.

Motorists may face higher fuel prices next week, with diesel, gasoline, and kerosene all projected to post increases based on recent movements in the international oil market.

According to a Philstar report, preliminary estimates from four days of trading in the Mean of Platts Singapore indicate a possible increase of P1.20 to P1.40 per liter for diesel, while gasoline prices may rise by P0.30 to P0.50 per liter, according to local industry sources.

Kerosene prices could also increase by around P0.45 per liter.

These projections do not yet include oil companies’ operating costs and other applicable premiums.

Oil firms are expected to announce final price adjustments on Monday, with the new rates taking effect the following day.(MyTVCebu)

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