Fuel prices up by as much as P5 on Aug. 18

Local retailers will raise prices of petroleum products by as much as P5 on Tuesday.

The Department of Energy said gasoline prices will increase by P2.49 a liter, diesel by P3.84 a liter and kerosene by P5.01 a liter.

Energy Secretary Sharon Garin said these upward adjustments came as diplomatic efforts “slowed” between the United States and Iran.

“We understand that this is not the news that Philippines would like to hear and this is a reflection of the volatility of the global oil price,” Garin said. —Lisbet K. Esmael