FUEL prices went up Tuesday for the second straight week.

The per-liter price of gasoline increased by 70 centavos, diesel by P1, and kerosene by 70 centavos., This news data comes from:http://redcanaco.com

The increase was attributed by sources in the local oil industry to oil-related global developments, specifically concerns of supply disruptions after Russia and Ukraine intensified their attacks on each other’s energy infrastructure, the possible impact on supply flows and global economy of the new US tariffs on India, signals from US Federal Reserve of an interest rate cut, and a large drawdown in US crude and fuel inventories.

Last week, pump prices of gasoline went up by 70 centavos, diesel by 50 centavos, and kerosene by 30 centavos.

Since January, the price of gasoline has risen by P12.80 per liter, diesel by P13.35 per liter, and kerosene by P2.75 per liter.

Pump prices increase for 2nd straight week