Gas, diesel prices up for 3rd straight week

FUEL prices increased on Tuesday, Nov. 11, for the third straight week. Diesel went up P1 per liter, kerosene by 90 centavos per liter, and gasoline by 50 centavos per liter. Local oil industry sources attributed the price hike mainly to Ukraine’s drone attack on Russia’s Black Sea port, and continued sanctions against two Russian oil companies, Rosneft and Lukoil. There was a hefty increase in fuel prices last week, with diesel going up by P2.70, kerosene by P2.10, and gasoline by P1.70 So far this year, gasoline has had a net increase of P18.70 per liter, diesel P22.75, and kerosene P9.55.