Motorists should brace for another round of fuel price hikes as oil companies are set to implement price adjustments on Tuesday, July 15, amid rising global oil prices.
Caltex announced that starting 6:01 a.m., it will increase the price of gasoline by P0.35 per liter, diesel by P0.70 per liter, and kerosene by P0.50 per liter.
Meanwhile, Seaoil and PTT Philippines will raise their gasoline prices by P0.70 per liter and diesel by P1.40 per liter, with Seaoil also adjusting the price of kerosene upward by P0.80 per liter. These changes will take effect at 6:00 a.m.
The upward trend in fuel prices is being attributed to global market developments, including concerns over potential stricter sanctions by the United States on Russia, one of the world’s top oil exporters.
