Fuel prices hike by PHP1.75-PHP2.60 per liter starting Tuesday

Motorists face another round of fuel price hikes this week, following five consecutive weeks of increases for gasoline and three for diesel.

Leading oil firms will raise prices by PHP1.75 per liter for gasoline and PHP2.60 for diesel starting Tuesday, June 24, with a second round scheduled either on June 26 or June 27 depending on the company.

Motorists in Quezon City rushed to gas stations early Tuesday morning to fill their tanks before prices rose by as much as P5 per liter.

Public utility vehicle (PUV) drivers are outraged by the price adjustments, saying they have to shell out more to ply their trade and face significant financial burdens.

The Department of Energy requested staggered implementation to ease the impact on consumers following global crude oil prices surging amid escalating conflict in the Middle East, while the government is preparing subsidies for PUV operators and drivers to reduce the effects of increasing fuel costs.