MANILA: The motoring public will need to pay more for petroleum products starting Nov 18, with local fuel retailers imposing another round of increases.
In an advisory on Monday (Nov 17), Seaoil said the per-litre prices of diesel and gasoline will rise by P1.20.
This will mark the fourth consecutive week of hikes for diesel and the seventh for gasoline.
The prices of kerosene, meanwhile, remain unchanged.
Jetti Petroleum president Leo Bellas earlier said the factors influencing the jump in diesel prices include the planned refinery closures, which could limit supply, as well as the “growing concerns” about sanctions against Russian oil.
“Gasoline prices remain supported as well amid expectations of tighter supply as firm regional demand continues to draw down inventories, and as exports from major regional producers have been declining on the back of refinery outages and planned turnarounds,” he added. - Philippine Daily Inquirer/ANN
