Fuel prices up by P1.45/liter on Christmas Eve

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Fuel prices up by P1.45/liter on Christmas Eve
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Consumers can expect higher pump prices on Christmas Eve as the country’s oil firms implemented an oil price hike of as much as P1.45 per liter to reflect

the movement of prices in the world oil market.

Jetti Petroleum president Leo Bellas last week said the expected higher pump prices can be attributed to the potential supply impact of the tighter sanctions against Russia, stoking further oil price volatility and optimism on economic growth and demand for oil following the interest rate cut by the US Federal Reserve.

On Dec. 17, 2024, oil companies implemented an increase on the price of petroleum products. Both gasoline and diesel have increased by P0.80 per liter, while kerosene has increased by P0.10 per liter.

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