Philippines Fuel Prices Set for New Hike Amid Global Tensions
Fuel prices in the Philippines are expected to rise next week due to tensions in the Middle East and Russia, according to local oil industry sources.
The price hike is estimated to be around P4.50 to P5.00 per liter for diesel and about P4 to P4.50 per liter for gasoline.
The estimates are based on the 4-day trading of Mean of Platts, Singapore, which serves as the pricing basis for refined goods in Southeast Asia.