Manila: Fuel prices are set for another increase this week by more than PHP5 per liter.

According to Philippines News Agency, Seaoil announced it will increase gasoline prices by PHP5.68 per liter, diesel by PHP4.31 per liter, and kerosene by PHP4.62 per liter effective 6 a.m. on Tuesday. Jetti Petroleum will also raise gasoline prices by PHP5.60 per liter and diesel by PHP4.30 per liter at the same time.

Petron echoed this trend, stating it will increase gasoline prices by PHP5.70 per liter, diesel by PHP4.40 per liter, and kerosene by PHP4.60 per liter. Energy department officials have noted that fuel prices are projected to rise further due to renewed military actions in the Middle East. Despite this, they assure that the domestic fuel supply remains more than enough to meet regulatory requirements.