Fuel prices up this week

Fuel price increase. INQUIRER FILE PHOTO

MANILA, Philippines — Motorists will have to pay more for petroleum products this week, with oil companies increasing the prices by almost P1 a liter for gasoline and diesel.

In separate advisories on Monday, Seaoil and Petro Gazz said gasoline and diesel prices would rise by 80 centavos per liter.

The prices of kerosene will also inch up by 10 centavos a liter.

These adjustments will take effect starting Tuesday, February 18.

Rodela Romero, Department of Energy-Oil Industry Management Bureau assistant director, earlier said the upward movements in pump prices could be attributed to the “increasing Middle East tensions and the intensifying sanctions of the US to Iran and Russia.”