Fuel prices up for 4th straight week

INQUIRER FILE PHOTO

There is no relief for motorists this week as oil companies are set to implement a new round of price increases starting Tuesday.

In separate advisories Monday, Shell Pilipinas, Cleanfuel, and Seaoil said the per-liter prices of diesel and kerosene would go up by 65 centavos and 60 centavos, respectively.

READ: More expensive fuel prices set Tuesday, July 2

Prices of gasoline have the biggest jump this week with P1.60 a liter.

This announcement from fuel retailers marks the fourth week of consecutive hikes.

“Geopolitical tensions in the Middle East, an unexpectedly large withdrawals in the US crude inventories, and optimistic forecasts for summer fuel demand have all contributed to pushing prices in oil products higher,” Rodela Romero, director of the DOE’s Oil Industry Management Bureau, said over the weekend.