A gas station attendant pumps fuel into a customer’s car. Local oil prices are set to go up again this week. REUTERS/Afolabi Sotunde/File Photo
MANILA, Philippines – Motorists will have to bear yet another round of fuel price hikes of up to P1.40 per liter starting Tuesday.
In an advisory, Seaoil said the per-liter price of diesel would increase by P1.40. Gasoline and kerosene will also go up by P1 and 70 centavos a liter, respectively.
READ: Eight OPEC+ countries raise production by 547,000 bpd
These price movements mark the fourth consecutive weekly increase for gasoline, and the third for diesel and kerosene.
Jetti Petroleum president Leo Bellas said the new wave of oil price hikes followed the United States’ new sanctions against Iran’s oil revenue stream.
Bellas also noted that Russian oil flows “dropped significantly” after Ukrainian attacks on its processing facilities.
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