MANILA (UPDATE) - A big fuel price hike looms this week as global oil prices surge.

Shell Philippines, Caltex, and Flying V said prices of gasoline will go up by P1.40 per liter; kerosene by P1.45 per liter; and diesel by P1.40 per liter on Tuesday.

Shell and Caltex will implement the increase effective 6 a.m. while Flying V will hike prices effective 12:01 a.m., Tuesday.

Phoenix Petroleum Philippines said gasoline and diesel prices will go up by P1.40 per liter effective 6 a.m.

Other oil companies are expected to follow suit. -- Report from Alvin Elchico, ABS-CBN News