Fuel prices rise: Gas up P0.70/liter, diesel P0.40/liter

Starting Tuesday, February 25, motorists will face another round of fuel price increases, with gasoline rising by P0.70 per liter and diesel by P0.40 per liter.

Kerosene prices will also climb by P0.20 per liter, according to announcements from oil companies including Seaoil, CleanFuel, PetroGazz, Shell, and Caltex.

Since February 18, gasoline has seen a total net increase of PHP4.05 per liter, diesel of PHP4.35 per liter, and kerosene of PHP2.70 per liter, as data from the Department of Energy shows.

These price hikes are attributed to ongoing supply disruptions in the global market due to geopolitical tensions in Ukraine and potential delays in OPEC+ output increases until April.

Motorists are advised to prepare for continued price fluctuations as the Ramadan season approaches, potentially driving up oil demand in Asia.