Big-time oil price hike looms amid renewed Mideast tensions

MANILA – Domestic fuel prices are projected to rise by as much as PHP10.50 per liter next week amid fresh military exchanges in the Middle East. In a message to journalists Friday, Jetti Energy president Leo Bellas said diesel prices will likely increase by PHP9.50 to PHP10.50 per liter and gasoline between PHP3.50 to PHP4.50 per liter, based on the price developments in the first four trading days this week. Crude prices have been on the rise anew and Bellas said this was “mainly supported by an elevated geopolitical risk premium, which rebuilt after Iranian attacks on commercial ships attempting to […]... Keep on reading: Big-time oil price hike looms amid renewed Mideast tensions