Fuel prices to increase anew starting Tuesday

Motorists are bracing for another increase in fuel prices starting Tuesday, September 9, with gasoline rising by P1 per liter, diesel by P1.40, and kerosene by 70 centavos.

This marks the third consecutive weekly price hike for diesel and kerosene, and the fourth for gasoline.

The price increases are attributed to sanctions imposed by the United States on Iran's oil revenue, compounded by falling Russian supplies due to Ukrainian attacks on its processing facilities.

With this week's hike, gasoline and diesel have reached record year-to-date net increases of P13.80 and P14.85 per liter, respectively, while kerosene has risen by a net P3.45 per liter so far this year.