Motorists need to brace themselves for another round of fuel price hikes on Tuesday, June 28, as diesel and gasoline prices increase for the fourth straight week.
Oil firm Cleanfuel said it would implement a P1.65 increase per liter of diesel and a P0.50 price hike per liter of gasoline.
Fuel prices have been on the rise since the start of the year. The fresh round of price hikes caps a month-long increase in fuel rates which the Department of Energy earlier attributed to global factors such as increased demand for oil in other countries and European Union's ban on oil imports from Russia.
Asked about the soaring pump prices, President-elect Bongbong Marcos last week said he was more inclined to provide direct assistance or ayuda to those affected by the price hikes than suspend the excise tax on fuel products.
"I prefer to handle the problem on the other side of the equation and provide assistance to those who are in need. Because if you reduce excise taxes, that does not necessarily help those who are most in need, yung talagang tinatamaan kasi blanket e," he said.
"Ang aking iniisip, kung sino ang talagang tinatamaan, example yung transport, yung nagpapasada, all of that, yung tinamaan kaagad, i-focus muna natin sa kanila, yung mga nangangailangan talaga," he added.