Fuel prices to rise Tuesday due to Middle East tensions
Fuel prices will increase starting Tuesday, October 24, due to rising geopolitical tensions in the Middle East and a decline in US crude stockpiles.
The Department of Energy attributes the price hikes to specific events such as the bombing of a Gaza hospital, canceled summits, and Iran’s proposed oil embargo on Israel.
Gasoline prices will rise by P0.95 per liter, diesel by P1.30 per liter, and kerosene by P1.25 per liter according to multiple petroleum companies including Shell Philippines, Seaoil, Cleanfuel, Caltex, and Petrogazz.
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