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Pump prices to go up by almost P2 by July 18

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt=" Motorists queue for fuel at a gas station in Pasig City on October 10, 2022. Mark Demayo, ABS-CBN News/File." src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/business/06/24/20221010-oil-price-hike-md-14.jpg"/><figcaption>Motorists queue for fuel at a gas station in Pasig City on October 10, 2022. <em>Mark Demayo, ABS-CBN News/File.</em></figcaption></figure></div><p>MANILA - Pump prices are expected to increase by around P2 on Tuesday, with experts attributing the forecast to Russia cutting its oil supply. </p><p>Diesel and gasoline prices will go up by P1.90-P2.20 per liter. </p><p>Kerosene prices will go up by P1.70 to P1.90 per liter. </p><p>&quot;&#x27;Yung Russia, nagsabi na rin na magbabawas din kami [ng supply] kaya natakot ang merkado dahil sa tightening of supply,&quot; Jetti Petroleum President Leo Bellas told ABS-CBN News.</p><p>On average, petroleum prices have cost at least P55/liter in Metro Manila, taking for a drastic increase since 2022, when the conflict between Russia and Ukraine broke out. </p><p>Russia is one of the biggest oil players ahead of the conflict, where it had met economic sanctions from the West imposed over the offensive against Ukraine.</p><div><strong>-- Report from Alvin Elchico, ABS-CBN News</strong></div>

Pump prices are expected to increase by around P2 on Tuesday, with experts attributing the forecast to Russia cutting its oil supply. 