Gasoline and diesel prices in the Philippines are set to increase by more than P6 per liter, according to fuel retailers citing a fresh round of price hikes. BusinessWorld reported that Unioil Petroleum Philippines, Inc. and Jetti Petroleum, Inc. will implement the increases starting Tuesday, July 28.
In separate advisories, Unioil and Jetti announced that gasoline prices will rise by P6.80 per liter and diesel prices by P7.30 per liter. The adjustments reflect the continued volatility in global oil markets and the weaker peso, which have pushed local fuel costs higher.
The price hike marks the third consecutive week of increases, adding strain on consumers and businesses already grappling with elevated transportation and logistics costs. Other oil companies are expected to follow suit with similar adjustments.