MOTORISTS are bracing for another round of fuel price increases on Tuesday, marking the seventh consecutive week of hikes for diesel and kerosene.
In an advisory, Seaoil announced that diesel prices will increase by P0.80 per liter, while kerosene will go up by P0.20 per liter. Gasoline prices will also see a P0.20 per liter uptick.
According to industry sources, the latest adjustments are driven by global market concerns over possible supply shortages, following Russia’s partial diesel export ban.
The recent US sanctions against Iran—imposed for allegedly violating the 2015 nuclear agreement—have also contributed to the upward pressure on fuel prices.
