Another double-digit pump price hike set Tuesday, March 24

Motorists are set to face higher pump prices anew this week, as retailers on Monday announced another round of hikes—marking the 11th consecutive increase for gasoline and the 13th for both diesel and kerosene—amid ongoing tensions in the Middle East.

In an advisory, Jetti Petroleum said it will raise gasoline prices by P8.00 per liter and diesel prices by P18.00 per liter, effective 6 a.m. Tuesday, March 24.

Other oil firms have yet to announce their adjustments for the week.

An industry source earlier projected increases of P7.50 to P8.50 per liter for gasoline and P16.50 to P17.50 per liter for diesel, citing the continuing crisis driven by armed conflict in the Middle East.

Malacañang on Monday downplayed concerns of an oil crisis, saying the country’s fuel supply remains adequate but acknowledging a “price disruption” due to developments in the Middle East.—MCG, GMA Integrated News