Metro Manila, Philippines – Oil companies have advised motorists of a fuel price hike on Tuesday, Feb. 3. Gasoline prices will increase by ₱0.80 per liter, diesel by ₱1.60/l, and kerosene by ₱1.10/l. The Department of Energy cited higher demand and geopolitical risks, including tensions between the United States and Iran, as factors driving higher oil prices. Shell, Caltex, and SeaOil said they will implement the adjustments. Petro Gazz, CleanFuel, and PTT Philippines will apply the same increases, except for kerosene, which they do not offer. “Tinitiyak ng DOE sa publiko na patuloy nitong mahigpit na minomonitor ang kalagayan ng pandaigdigang pamilihan ng langis,” the DOE said in a media release on Monday, February 2. [Translation: The DOE assures the public that it continues to closely monitor the condition of the global oil market.]