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MANILA - Oil retailers are set to increase prices at the pump this week, according to industry sources.
They said the increase this week is likely to be more than a peso for gasoline and between P0.25-0.40 a liter for diesel.
Zenaida Monsada, director of the Department of Energy-Oil Management Bureau, said a big reason for the likely increase in prices this week are reports that the economies of the US and Japan are improving.
"Kung tuluy-tuloy ang global economy at hindi magdagdag ng production," the uptrend in prices is likely to continue, said Monsada.
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