IN time for Holy Week where many motorists will be gassing up for the long travel, oil firms will be implementing a bigtime price increase.

According to the estimate of international petroleum trading in the past four days, the direction of oil prices are “pointing to quite significant upward price movements” for next week.

For gasoline, it is estimated at P2.20-P2.40 per liter.

Diesel on the other hand P1.45 to P1.75 per liter

According to Department of Energy-Oil Industry Management Bureau Director III Rodela Romero based on the four days’ trading, it shows an increase of P1.90 to P2.10 per liter for gasoline, P1.35 to P1.50 per liter for diesel, and P1.40 to P1.50 per liter for kerosene.

“Oil edges higher driven by speculation surrounding the impact of Ukraine's recent assaults on Russian big three refineries; the reduction of Iraq crude exports; the big draw from US crude and gasoline stockpiles and the stronger demand and economic growth of US and China,” Romero said.

Oil companies announce price adjustments every Monday, and will be implemented  the following day.