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Motorists are in for more bad news as another round of fuel price hikes is set for next week.
According to Department of Energy–Oil Industry Management Bureau (DOE-OIMB) Assistant Director Rodela Romero, the increases are based on a four-day trading average in the Mean of Platts Singapore benchmark and related market costs.
Projected adjustments are as follows:
- Gasoline: up by ₱0.20 per liter
- Diesel: up by ₱0.40 to ₱0.50 per liter
- Kerosene: no price change expected
This marks the fifth consecutive week of gasoline price increases and the fourth straight week for diesel.
Analysts link the uptick to geopolitical tensions, including the recent Israeli strike in Doha, Qatar targeting Hamas leaders, as well as Russian drone incursions into Polish airspace. Additional pressure comes from new U.S. tariffs affecting the global shipping industry.
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