More expensive fuel prices set Tuesday, July 2

INQUIRER FILE PHOTO

Motorists will continue to pay more for petroleum products this week, with oil firms implementing a new round of price increases starting Tuesday.

In separate advisories on Monday, Seaoil, Shell Pilipinas, and Petro Gazz said pump prices will jump by as much as 95 centavos, marking the third consecutive week of hikes.

READ: Fuel prices set to rise for 3rd straight week

The per-liter price of diesel will advance by 65 centavos, while kerosene prices are set to rise by 35 centavos a liter.

Gasoline, meanwhile, will increase by 95 centavos per liter.

Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, said crude oil prices continued to swell “as the global supply outlook remained threatened by the potential escalation of geopolitical unrest, due to the drone attack of Ukraine hitting Russian refineries, the production restriction of OPEC and the forecast for the peak summer season demand starting 3rd [quarter] of this year.”

Last week, fuel prices surged by as much as P1.75 per liter.