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Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Mark Demayo, ABS-CBN News/File.
MANILA -- Motorists will be hit by back-to-back spikes in oil prices this week as tensions in the Middle East continue.
Gasoline prices will increase by P0.90 to P1.20 per liter.
Diesel will increase its prices by P0.60 to P0.90 per liter.
Meanwhile, kerosene prices may increase by P0.20 or stay steady.
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DOE director Rodela Romero earlier cited escalation of tensions in the Middle East as well as OPEC’s robust growth expectations for oil demand in 2024-2025 as driving factors for increase in prices.
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