Fuel prices up this week

MANILA, Philippines — Fuel prices are set to increase by as much as P1.20 per liter on Tuesday, marking a three-week uptrend for diesel and two straight weeks of hikes for kerosene.

In separate advisories, Shell, Caltex and Seaoil announced an upward adjustment of P1.20 per liter for diesel and P0.70 per liter for kerosene.

Gasoline prices will remain steady this week.

Petro Gazz, Cleanfuel, PTT Philippines and Jetti will implement the same price movements except for kerosene, which they do not offer.

The Department of Energy (DOE) attributed the price hikes to the escalating tensions in the Middle East after Israel signified plans to attack Iran’s oil refineries, which could lead to supply disruption.

Among other factors were oil and gas disruptions in the southeastern part of the US due to Hurricane Helene, the DOE said.