While your fuel gauge does nothing but go down, down, down, fuel prices for the last four weeks have done nothing but go up, up, up.
For the fourth successive week, oil prices in the country are in for another increase. Tomorrow, June 28, fuel companies will add PHP 1.65 per liter for diesel, PHP 0.50 per liter for gasoline, and PHP 0.10 for kerosene.
As of the moment, Shell and Seaoil have announced their fuel adjustments will take effect by 6:00 AM tomorrow. Meanwhile, CleanFuel's price advisory says their own price increase will be effective by 8:01 AM. Other companies are expected to make their announcements later in the day.
This means that in only four weeks, diesel has already increased by PHP 15.60 per liter, while gasoline only increased by PHP 6.15 in the same period. Global demand and the tension between Russia and Ukraine still remain the two reasons why fuel prices continue to increase.
While the oil price increase for this week is lower than the past three weeks, it's still an increase nonetheless, adding another burden for motorists, most especially to public transport drivers who are already struggling to make ends meet.