(UPDATE) FUEL prices rose on Jan. 21 for the third straight week, with kerosene and diesel up by more than P2.The per-liter price of kerosene increased by P2.50 and diesel by P2.70.Gasoline had the smallest rise at P1.65 per liter.The Department of Energy's Oil Industry Management Bureau attributed the substantial increases to the new sanctions imposed on Russian oil by the United States and Britain.The sanctions will reduce Russian crude exports as the market adjusts to the drop in supply. Shipping costs are expected to rise as well.Fuel prices have been going up since the start of the year. Gasoline has increased by P3.65 per liter, diesel by P5, and kerosene by P4.30.
