MOTORISTS will have to shell out more cash for fuel in the last week of 2023.

According to the Department of Energy on Friday, the estimated price increases based on the four-day trading are P1.40 to P1.60 per liter for both gasoline and diesel and P1.60 to P1.80 per liter for kerosene.

‘’Oil prices surge amid growing avoidance of the Red Sea by oil companies and tanker owners as a rebel group ramps up attacks on vessels in the region,’’ DOE-Oil Industry Management Bureau Assistant Director Rodela Romero said.

This week, the price of diesel increased by P0.10 per liter, and the price of kerosene decreased by P0.75 per liter. 

The price of gasoline remained unchanged. 

The price changes are usually revealed by oil firms on Monday and go into effect the following day.