PRICES of fuel have gone up for the third straight week.
The per-liter price of gasoline on Tuesday rose by P1, diesel by P1.40, and kerosene by 70 centavos.
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Local oil industry sources attributed the increase to the damage to Russian oil processing facilities from Ukrainian attacks, the US’ imposition of new sanctions on Iran’s oil revenue stream, and Saudi Aramco and Iraq’s state oil marketer SOMO halting exports to India’s refinery.
So far this year, the price of gasoline has risen by P13.80 per liter, diesel by P14.75 per liter, and kerosene by P3.45 per liter.
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