Monday, 14 July 2025, 4:17 am

    Fuel prices climb again Tuesday amid global oil jitters

    Retail fuel prices are set to rise again this Tuesday, with increases of up to P0.70 per liter for gasoline and P1.40 per liter for diesel, according to Jetti Petroleum Inc. president Leo Bellas.

    The hike comes after two consecutive weeks of price rollbacks and is driven by stronger global oil demand and fresh disruptions in Red Sea shipping routes. These factors outweighed expectations of increased crude output from OPEC+ countries.

    Bellas noted that the increase could have been sharper if not for bearish market sentiment linked to U.S. tariff concerns, which are seen to slow global growth and curb oil demand.

    The adjustment adds pressure on transport and logistics-dependent sectors, while households may face higher living costs. DOE data show fuel prices are already up by P9 to P10.05 per liter year-to-date, signaling sustained cost challenges for consumers and businesses.

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