(UPDATE) OIL companies raised their pump prices on Tuesday, Aug. 26.

The per-liter price of gasoline rose by 70 centavos, diesel by 50 centavos, and kerosene by 30 centavos.

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Continued tensions between Israel and Iran, between Russia and Ukraine, and the big drop in US crude inventories and gasoline stocks triggered the price increases, local oil industry sources said.

Last week, gasoline prices increased by 69 centavos, and the prices of diesel and kerosene went down by 80 centavos, and 90 centavos.

Since January, the price of gasoline has gone up by P12.10, diesel by P12.35, and kerosene by P2.05.