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Oil companies will implement another wave of fuel price hikes of nearly P1 a liter beginning Tuesday, January 14.

“The delay was caused by force majeure,” Agriculture Secretary Francisco Tiu Laurel Jr. said, pointing out that several storms and weather disturbances, including recent typhoons, stalled the release of imported agricultural goods.

In separate advisories on Monday, Seaoil and Petro Gazz said the per-liter price of diesel would go up by 90 centavos.

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Both gasoline and kerosene will have an upward price adjustment of 80 centavos per liter.

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READ: Diesel, gasoline prices up P1.40/L, P1/L starting Jan 7

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Rodela Romero, Department of Energy (DOE)-Oil Industry Management Bureau assistant director, also projected late last week that pump prices would move upward this week, with global factors influencing oil prices.

She said these increases could be due to the lower oil production data recorded in December. The robust economy in the United States, a major economic powerhouse, could also impact fuel prices.

The official also said the hikes could be attributed to the “anticipated rise in Asian demand” following China’s economic stimulus package.

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