The prices of gasoline, diesel and kerosene will increase again starting Tuesday, September 9.
The price hike marks the fourth consecutive weekly increase for gasoline, and the third for diesel and kerosene.
The Department of Energy (DOE) Oil Industry Management Bureau said diesel will increase by P1.40 per liter; gasoline by P1.00 perl liter; and kerosene by 70 centavos per liter.
The latest price hike will bring the year-to-date adjustments to a net increase of P12.80 per liter for gasoline, P13.45 per liter for diesel, and P2.75 per liter for kerosene as of September 2.
Last week, oil firms increased the pump prices of gasoline by P0.70 per liter; diesel by P1.00 per liter; and kerosene by P0.70 per liter.
The DOE said the price adjustments are a result of the United States’ new oil sanctions against Iran.
The agency added that other geopolitical factors include the halt of exports to India’s refinery and the Ukrainian attacks on Russia's oil processing facilities.