Middle East tensions drive up fuel prices

THE escalating conflict in the Middle East pushed up prices of fuel in the country by more than P2.

The per-liter price of gasoline increased on Tuesday by P2.65, diesel by P2.70 and kerosene by P2.60.

The big increase was attributed by the Department of Energy's Oil Industry Management Bureau to the intensifying fighting between Israel and Hezbollah in Lebanon.

Other factors were energy and oil supply disruptions brought about by Hurricane Milton in the United States and maintenance work in refineries in the Southeast Asian region.

Since January, the price of gasoline has gone up by P9.05 and diesel by P6.75.

The price of kerosene has gone down by P2.75.