MANILA, Philippines—Oil companies will again increase fuel prices this week, as geopolitical tensions between the US and Iran continue to bring uncertainty in the market.
Shell, Cleanfuel, Seaoil and Petrogazz said that they will raise gasoline prices by P0.60 per liter and diesel by P1.20 per liter. The cost of kerosene will also go up by P1.20 per liter. The price adjustments will take effect on Tuesday, February 24.
This will be the sixth consecutive week of fuel price hikes.
Last week, oil companies raised gasoline prices by P1.20 per liter, and diesel and kerosene by P0.60 per liter.