Fuel prices up for second straight week
Local oil companies are set to raise pump prices by P0.70 per liter for gasoline, P0.40 per liter for diesel, and P0.20 per liter for kerosene starting tomorrow morning.
Daily TribuneLocal oil companies are set to raise pump prices by P0.70 per liter for gasoline, P0.40 per liter for diesel, and P0.20 per liter for kerosene starting tomorrow morning.
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Motorists will face another round of fuel price hikes this week, marking the second consecutive week of increases.
Local oil companies are set to raise pump prices by P0.70 per liter for gasoline, P0.40 per liter for diesel, and P0.20 per liter for kerosene starting tomorrow morning.
According to Department of Energy Oil Industry Management Bureau Director Rodela Romero, the adjustments are driven by the risk of supply disruptions in the global oil market.
Key factors include a Ukrainian drone attack on a Russian pumping station affecting Kazakhstan’s oil exports, the G7’s proposal to tighten the oil price cap on Russia, and reports that OPEC+ may delay its planned output hikes in April.
Jetti Petroleum President Leo Bellas added that supply constraints in Russia and concerns over tighter gasoline availability in the region, particularly ahead of Ramadan, are keeping prices elevated.
While diesel supply remains ample despite upcoming refinery turnarounds, uncertainty over India's export strategy could continue to support price levels.
