Philippine News Agency
Pump prices up anew Tuesday
Motorists can expect a third consecutive week of gasoline price increases starting the first week of September.
Seaoil, PetroGazz, and Cleanfuel announced a 70-centavo per liter increase for gasoline and kerosene, and a P1 per liter hike for diesel, effective Tuesday.
These fuel price adjustments are attributed to ongoing geopolitical tensions affecting major economies.
Concerns over supply disruptions stemming from intensified attacks on energy infrastructure by Russia and Ukraine, along with new US sanctions on Russia, are driving the rebound in crude oil and refined fuel prices.
Additional factors include demand optimism following signals from the US Federal Reserve regarding a possible interest rate cut and large drawdowns in US crude and fuel inventories.
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