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Motorists queue for fuel at a gas station in Pasig City on October 10, 2022. Mark Demayo, ABS-CBN News/File.
Gasoline prices are expected to increase by more than P1 per liter in the latest wave of petroleum price hikes set for next week, July 25.
Gasoline prices will take the largest hike at P1.35 to P1.65 per liter.
Meanwhile, diesel will have a P0.25 to P.55 per liter increase, while kerosene will increase by P0.40 to P0.60 per liter.
Experts have attributed this to Russia and Saudi Arabia cutting down oil production.
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On average, petroleum prices have cost at least P55/liter in Metro Manila, taking for a drastic increase since 2022, when the conflict between Russia and Ukraine broke out.
Russia is one of the biggest oil players ahead of the conflict, where it had met economic sanctions from the West imposed over the offensive against Ukraine.
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