MANILA, Philippines — Oil companies announced on Friday that gasoline and diesel prices would go up again starting on Tuesday.
They said that gasoline prices would increase by around P1 to P1.20 per liter and diesel by about P0.60 to P0.80 per liter.
This is the 5th consecutive week that both gasoline and diesel prices would go up.
These estimates are based on the 4-day trading of Mean of Platts, Singapore, the pricing basis of refined goods in Southeast Asia.
Sources said the main reason for the increase was due to the escalation of geopolitical tensions as Ukraine damaged several Russian oil facilities.
Local oil companies this week adjusted fuel prices, with gasoline increasing by P0.10 per liter, and diesel by P0.50 per liter, this week.
