FILIPINO motorists will not get any relief from rising fuel prices in the first week of February, as local retailers are set to impose another round of increases starting today, February 3.
In an advisory Monday, Seaoil said the prices of local diesel products will jump for the sixth straight week, this time by P1.60 per liter.
Gasoline’s upward adjustments will also continue for a fourth consecutive week, with an additional 80 centavos per liter.
Kerosene will also enter its sixth straight week of increase, up by P1.10 a liter on February 3.
Late last week, Jetti Petroleum president Leo Bellas said the potential rise in fuel prices could be pinned on geopolitical tensions, particularly in the Middle East, as they continued to trigger supply fears. An outage at Kazakhstan’s biggest oilfield may also disrupt supply.
“Diesel and middle distillate prices are up due to rising supply concerns as the EU import ban on refined products from Russian-origin crude could disrupt flows and tighten the physical market,” he added. (Lisbet K. Esmael © Philippine Daily Inquirer)
