Fuel prices will increase by up to PHP0.30 per liter starting Tuesday, oil companies announced on Monday.
In separate advisories, Seaoil and PTT Philippines said gasoline prices will go up by PHP0.30 per liter, while diesel prices will increase by PHP0.20 per liter, effective 6 a.m.
The increase in gasoline prices comes after a PHP0.10 per liter rollback last week. Meanwhile, diesel prices will mark their third consecutive weekly hike, which authorities have partly attributed to ongoing geopolitical developments abroad.
Seaoil also announced a PHP0.30 per liter increase in kerosene prices, effective at the same time.
Earlier, authorities noted that geopolitical concerns remain a major upside risk to fuel prices, despite expectations of declining prices in Asia due to a projected oversupply. (PNA | Joann Villanueva)
