Oil prices go up TuesdayIn its oil price forecast, Unioil Philippines said both diesel and gasoline fuels would be increased by P0.70 to P0.80 per liter. MANILA, Philippines — Oil prices will be raised for the fifth straight week on Tuesday. In its oil price forecast, Unioil Philippines said both diesel and gasoline fuels would be increased by P0.70 to P0.80 per liter. Global oil prices started the past trading week on a weak note as talks of a rate hike by the Federal Reserve spooked the market, Reuters reported. At the end of the trading week, global oil prices still recorded its sixth weekly gain, driven by concerns over geopolitical issues such as the attacks on the United Arab Emirates by Yemen’s Houthi group and a possible military conflict in Ukraine.

Source: Philippine Star January 29, 2022 18:42 UTC