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Fuel prices to increase again on Tuesday; gasoline by P1.10

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ABS-CBN News

MANILA (UPDATE) - Fuel prices are about to increase again on Tuesday. Shell and Seaoil said they will be hiking the prices of their fuel products at 6 a.m. on August 22 by the following amounts: Gasoline + P1.10/L Diesel + P0.20/L Kerosene + P0.70/L Caltex announced it will implement similar hikes on its fuel products at 12:01 a.m. Tuesday. Jetti, Unioil and Petro Gazz will also hike their gasoline and diesel prices by similar amounts at 6 a.m.Cleanfuel meanwhile will wait until 4:01 pm. Tuesday to hike its gasoline and diesel prices. Other oil firms are expected to make similar announcements during the day. This is the seventh straight week that pump prices have risen. Since July 10, the string of fuel price hikes has already totaled P12.50 per liter for diesel, P8.85 for gasoline and P11.85 for kerosene. However, year to date the net increases total to P14.50 per liter for gasoline, P8.80 for diesel, and P5.84 for kerosene.Rodela Romero, Assistant Director at the DOE, said that the main reason for these continuous price increases is the cut in production initiated by Saudi Arabia and followed by Russia. The United States has also observed increased fuel consumption and reduced inventory, contributing to the upward push in prices.Transport group Pasang Masda, along with three other jeepney organizations, is filing a formal petition tomorrow at the LTFRB to raise jeepney fares. Pasang Masda president Obet Martin said that the earlier announced P1 increase was only provisional, and they will now be requesting a higher fare increase, surpassing the P2 previously sought by the group led by Lando Marquez.<div>- With a report from Alvin Elchico, ABS-CBN News</div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2770462" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Fuel prices will be rising again on Tuesday, with gasoline getting more expensive by P1.10 per liter. 