The Daily Tribune
Disparate fuel price movement: gas up; diesel, kerosene down
Effective February 4, gasoline prices will increase by P0.70 per liter, while diesel and kerosene will decrease by P1.15 and P0.90 per liter, respectively.
Several oil companies have announced these mixed price adjustments.
The price movements are attributed to uncertainties over US tariffs on Canada and Mexico, higher diesel exports from India and China, and a seasonal boost in gasoline demand.
Market sentiment is also affected by US President Donald Trump's push for lower oil prices, increased production from major suppliers including OPEC, and a buildup in US crude inventories.
The OPEC+ Joint Ministerial Monitoring Committee met on February 3 to reassess the global oil market.
These adjustments follow a rollback on January 28.
From the start of the year until January 28, gasoline saw a total net increase of P2.65 per liter, diesel rose by P4.80 per liter, and kerosene went up by P3.80 per liter.
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