FUEL prices went up on Feb. 24 for the 6th straight week.
The per-liter price of gasoline is up 60 centavos, diesel and kerosene by P1.20.
Local oil industry sources said this week’s price increases reflect the growing tension between the US and Iran, which has raised freight costs for all fuels, despite some low regional prices.
The sources said US strikes on Iran are now likely and have decreased the possibility that the conflict will be resolved through diplomacy.
Last week, local oil companies hiked gasoline prices by P1.20, and diesel and kerosene by 60 centavos.
Since the start of the year, gasoline has had a net increase of P4.80 per liter, diesel by P8.30 per liter, and kerosene by P6 per liter.
