Metro Manila, Philippines – Motorists will have to shell out more this week as firms are set to implement a major price hike on fuel products starting Tuesday, Jan. 20.
In separate announcements on Monday, Cleanfuel and Seaoil said diesel will go up by P2 per liter this week.
Gasoline prices will rise by P1 per liter.
Seaoil also said kerosene will increase by P1.50 per liter.
Oil firms implemented a slight increase on pump costs last week.
The Department of Energy (DOE) earlier said the price movements were driven mainly by concerns over supply risks from Iran, the fourth largest producer in the Organization of the Petroleum Exporting Countries, over widespread rallies and killings of protesters and a possible action from the United States.
As of Jan. 13, the DOE said year-to-date total net increase stood at P0.20 per liter for gasoline, P0.40 per liter for diesel, and P0.40 per liter for kerosene.
