Last week’s fuel price increase was already a sign of what’s coming, and as we’ve expected, oil prices will continue to rise this week.
Experts attribute this to the ongoing sanctions on oil products from Iran and the newly increased tariffs on oil products from Venezuela.
According to the latest market reports, gasoline prices are expected to increase by 1.20 to 1.40 pesos per liter, while diesel prices will likely rise by 1.00 to 1.20 pesos per liter. Similarly, kerosene is expected to increase by 1.00 to 1.20 pesos per liter.
The final set of price adjustments will be announced later today and will take effect tomorrow, Tuesday.
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