Kerosene prices are expected to increase by P1.30 to P1.50 per liter. 

Meanwhile, gasoline prices could have an uptick of P0.75 to P1 per liter. This is the second straight week that gas prices will increase.

Diesel prices, however, will fall for a second straight week at P0.25 to P0.50 per liter. 

According to industry experts, prices of imported petroleum products saw a huge increase in the first three days of trading, and saw a decrease in the last day due to various factors. 

These factors include weaker oil demand in China, fears of a worldwide recession and lower supply in oil. 

Earlier this week, China reported its highest COVID-19 caseload in six months. Oil demand often factors China's capacity to manufacture, which in turn have been affected by their strict zero-COVID policies such as lockdowns, quarantines, and mass testing.

Almost half of the caseloads came from manufacturing hub Guangdong province. 

Experts have previously warned of gasoline prices' usually increasing during the winter season. The Philippines imports its oil supply.

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