The prices of gasoline and diesel will increase again on Tuesday, November 11.
Fuel retailers on Monday announced that gasoline will increase by 50 centavos per liter.
This adjustment marked the sixth consecutive price hike after an increase last week by P1.70 per liter.
Diesel will also increase by P1 per liter, the third consecutive price hike after last Tuesday's mark up of P2.70 per liter.
The price of kerosene, meanwhile, will remain the same after an increase of P2.10 per liter last week.
The Department of Energy Oil Industry Management Bureau said geopolitical tensions continue to drive the prices of oil.
"This new round of price hikes is attributed to the Russia-Ukraine conflict, following a Ukrainian drone strike on Moscowís Black Sea oil ports.
The recent strike is one of several attacks Ukraine has conducted over the past months as retaliation for Russiaís attacks on its power grid and sanctions on some of the top oil refineries, and tighter supply continue, " the agency said.
This weekís fuel price hike brings year-to-date prices of diesel by P22.85 per liter, gasoline by P18.70 per liter.
The price of kerosene remains at P8.65 per liter.
The adjustments will take effect starting 6 am on Tuesday.