MANILA – Fuel prices are expected to increase by up to PHP2 per liter on Tuesday due to the impact of geopolitical developments overseas.
In an advisory on Monday, Seaoil said diesel prices will increase by PHP2 per liter and gasoline by PHP1 per liter, effective 6 a.m. on Jan. 20.
This week’s hike in diesel prices marks the fourth consecutive increase, while gasoline prices have risen for the second time, driven by supply concerns amid developments in the Middle East and ongoing tensions in the Russia-Ukraine conflict.
Kerosene prices are set to rise by PHP1.50 per liter, marking the fourth consecutive week of increases. (PNA)