By el Amigo
MANILA, Philippines — Filipino motorists are in for another painful trip to the gas station as fuel prices are scheduled to increase Tuesday, with kerosene registering the steepest adjustment at P5.01 per liter.
The DOE announced that gasoline prices will rise by P2.49 per liter, while diesel will become P3.84 per liter more expensive.
Kerosene prices, meanwhile, will jump by P5.01 per liter, making it the biggest increase among the three major petroleum products.
Industry players attributed the latest round of increases to movements in global oil prices, particularly the growing uncertainty surrounding efforts to broker peace in the Middle East.
Jetti Petroleum noted that the market had turned more volatile as expectations for a diplomatic breakthrough in the region weakened, putting fresh upward pressure on crude prices.
The increase is likely to be felt beyond fuel stations, as higher petroleum costs can push up transportation, logistics and other operating expenses.
Consumers and businesses are therefore expected to brace for another round of price pressures following the latest fuel adjustment.
elamigo/xf
