Fuel prices to increase starting August 5 due to global supply issues

Filipino consumers will face significant increases in fuel costs starting August 5, as major oil companies implement price hikes across various petroleum products.

Shell Pilipinas and Seaoil will raise prices by P1.90 per liter for gasoline, P1.20 per liter for diesel, and P1.00 per liter for kerosene.

Jetti, Petro Gazz, Cleanfuel, and PTT Philippines will implement the same price adjustments for gasoline and diesel.

Caltex, meanwhile, will increase prices by P1.30 per liter for gasoline, P0.90 for diesel, and P0.75 for kerosene.

The Department of Energy attributes these price adjustments to renewed global supply disruptions, following US sanctions on Russian and Iranian oil industries, and fresh EU sanctions on Russia over its war against Ukraine.

This is compounded by supply tightening of diesel and a larger than expected decline in US gasoline stocks.

Despite the general price increase, a price freeze remains in effect for kerosene and LPG in areas previously declared under a state of calamity due to monsoon rains.