MANILA, Philippines — Motorists in the Philippines are facing another round of fuel price hikes, with gasoline and kerosene prices set to increase by nearly P1 per liter starting Tuesday, January 14.
On Monday, January 13, oil companies announced a P0.90 per liter increase for diesel, while gasoline prices will rise by P0.80 per liter.
PetroGazz, Seaoil, CleanFuel, and Shell Pilipinas issued advisories detailing the price adjustments. Seaoil and Shell Pilipinas will also increase kerosene prices by P0.80 per liter.
This marks the second consecutive week of price hikes in 2025, with increases surpassing the Department of Energy‘s (DOE) projections. The DOE had forecasted smaller increases: P0.40 to P0.70 per liter for gasoline, P0.45 to P0.75 per liter for diesel, and P0.65 to P0.75 per liter for kerosene.
The DOE attributed the rising prices to a decline in U.S. crude oil inventories, driven by colder temperatures.
Last week, oil firms raised gasoline and kerosene prices by P1 per liter and diesel prices by P1.40 per liter.
The DOE also reported that fuel prices surged overall in 2024. Gasoline prices increased by P12.75 per liter, diesel by about P11 per liter, while kerosene saw a decrease of P2.70 per liter.
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