Philippine News Agency
Big-time fuel price hike seen next week
The Department of Energy (DOE) warns of a potential price increase for diesel by as much as PHP4.80 per liter next week.
Gasoline prices may increase by PHP2.50 to PHP3.00 per liter, and kerosene by PHP4.25 to PHP4.40 per liter.
These projected price adjustments are attributed to a nearly USD4 per barrel increase in global oil prices for gasoline, diesel, and kerosene.
The world price of crude oil increased to USD86.6 per barrel on Thursday from USD83 on Monday.
DOE-OIMB Director Rino Abad stated that based on four trading days from Monday to Thursday, increases are already evident.
While the Philippines does not directly import oil from Iran, suppliers may be sourcing from the country amidst its conflict with Israel.
The DOE advises motorists to conserve fuel and avoid non-essential travel.
President Ferdinand Marcos Jr. has stated the government is prepared to provide fuel subsidies to sectors heavily impacted by potential oil supply disruptions.
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Motorists should prepare for fuel price increases exceeding P1 per liter starting June 17, 2025, as projected by the Department of Energy.
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Local oil companies have agreed to implement fuel price increases in two tranches this week to lessen the burden on consumers, following discussions with the Department of Energy (DOE).
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Pump prices for gasoline and diesel will increase by P1.80 per liter, while kerosene will go up by P1.50 per liter starting Tuesday, June 17, 2025.
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Motorists in the Philippines are set to face significant fuel price increases starting Tuesday, June 24.
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Oil companies in the Philippines have agreed to implement pump price increases on a staggered basis this week to lessen the impact of significant price adjustments on consumers.
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