MANILA, Aug. 21 (Xinhua) -- Local fuel prices are estimated to increase for a second consecutive week, local media reported on Friday.
Oil industry experts said diesel prices would go up by around 1.75 to 2.25 pesos per liter, while gasoline prices would rise by about 1 to 1.50 pesos per liter, according to Manila Times.
The estimates are based on the pricing of refined goods in Southeast Asia, with tensions in the Middle East continuing to influence the global market, according to the reports.
The Philippines relies heavily on imports from regions like the Middle East to meet its energy needs, making local fuel prices highly sensitive to global market dynamics. ■