Motorists should prepare for another round of increases in petroleum product prices next week, marking the third consecutive price hike for 2025.
According to Rodela Romero, Assistant Director of the Department of Energy-Oil Industry Management Bureau, estimated upward adjustments in retail fuel prices based on international trading over the past four days are as follows:
- Gasoline: Increase of ₱1.35 to ₱1.60 per liter
- Diesel: Increase of ₱2.30 to ₱2.60 per liter
- Kerosene: Increase of ₱2.30 to ₱2.50 per liter
Romero attributed these price movements to developments in the international oil market, particularly the imposition of new sanctions on Russian oil by the US and UK. These sanctions are expected to reduce Russian exports, potentially driving global crude prices higher as the market adjusts to the loss of supply from one of the world’s largest producers.
Fuel companies typically announce official price adjustments every Monday, which are then implemented the following day.
On January 14, 2025, oil firms raised pump prices by ₱0.80 per liter for gasoline and kerosene, while diesel prices increased by ₱0.90 per liter. These adjustments marked the second price hike for the year.
So far, 2025’s total net price increases stand at:
- Gasoline: ₱1.80 per liter
- Kerosene: ₱1.80 per liter
- Diesel: ₱2.30 per liter
In Metro Manila, prevailing fuel prices currently range as follows (based on the latest Department of Energy price monitoring data):
- Gasoline: ₱52.25 to ₱75.62 per liter
- Diesel: ₱49.00 to ₱65.85 per liter
- Kerosene: ₱70.91 to ₱82.20 per liter
Motorists are advised to plan accordingly as these price hikes could have a cascading impact on transportation and goods costs.