Manila: Fuel firms on Monday announced another round of price hikes this week of up to PHP18.80 per liter. Jetti Petroleum said it will raise diesel prices by PHP18.60 per liter and gasoline by PHP5.40 per liter effective 6 a.m. Friday. "We believe the delayed implementation will help cushion the impact of the significant increase, particularly on diesel," Leo Bellas, Jetti Petroleum president, said in a Viber message.
According to Philippines News Agency, Seaoil, in a separate advisory, said it will increase diesel prices by PHP17.95 per liter, gasoline by PHP4.90 per liter, and kerosene by PHP8.10 per liter effective 6 a.m. Tuesday. Petron announced it will raise gasoline prices by PHP4.90 per liter, diesel by PHP18.80 per liter, and kerosene by PHP8.10 per liter effective the same time.
Fuel prices continue to rise, with no clear signs of easing tensions in the Middle East. Reports said the United States, Iran, and regional mediators are in talks for a possible 45-day ceasefire aimed at ending the conflict. A resolution could help ease global oil prices, which have surged past USD100 per barrel.
