Gas prices up for 3rd straight week

Prices of petroleum products are set to go up again this week. REUTERS/Bing Guan/File Photo

MANILA, Philippines – Motorists will be greeted with a fresh round of fuel price hikes at the start of “ber” months, with gasoline prices now up for the third consecutive week.

In separate advisories, Seaoil, PetroGazz, and Cleanfuel said gasoline and kerosene prices would rise by 70 centavos a liter, while the per-liter price of diesel will increase by P1 starting Tuesday.

READ: Fuel price hikes of about P1/liter cued for Sept. 2

Industry sources earlier said the increases could be blamed on persistent tensions involving major economies.

“Crude oil and refined fuel prices have rebounded this week, driven by concerns of supply disruptions after Russia and Ukraine intensified their attacks on each other’s energy infrastructure, and worries that new US sanctions on Russia and buyers of Russian crude oil will restrict global supply flows,” Jetti president Leo Bellas said in a previous statement.