South America could force local service stations to increase prices.

The Finance Ministry announced changes in fuel prices yesterday, reflecting the price of petroleum purchased by retailers Shell and Esso.

Gasoline, kerosene, and diesel prices have risen 9.55 cents, 10.92 cents and 5.915 cents per gallon, respectively.

Motorbikes, which have an average of 1.31 gallon gas capacity, could see a price hike of up to 12.51 cents for a full tank.

The average size car with a 10.98 gallon tank capacity could see a price hike of up to $1.04 cents for a full tank of gasoline.

However, service stations may or may not raise prices. The Ministry announcement sets a roof as to how much can be charged per litre.