Motorists across the Philippines are set to face another round of fuel price increases starting Tuesday morning, continuing a trend of consecutive weekly hikes.
Oil companies announced on Monday that prices would climb by up to P1 per liter. This marks the sixth consecutive week for gasoline price hikes and the third straight week for diesel.
In an advisory, Seaoil stated that the price of its diesel products would increase by P1.00 per liter, while gasoline prices would be adjusted upward by P0.50 per liter.
The new prices are effective at 6 a.m. Tuesday. No price adjustment was announced for kerosene.
Jetti Petroleum President Leo Bellas attributed the price surge to a “significant increase in the premium for gasoline due to firm regional demand amid tight supply as regional refineries undergo turnarounds.”
The latest increases follow a substantial price hike last week, when gasoline prices rose by P1.70 per liter, diesel by PHP2.70 per liter, and kerosene by P2.10 per liter.