Oil prices to rise in PH starting Tuesday
Oil prices are set to increase in the Philippines starting Tuesday, August 25, due to rising demand and dwindling supply in the United States.
Shell Pilipinas Corp., CleanFuel, Seaoil, PetroGazz, and Caltex announced price hikes ranging from P0.70 per liter for gasoline to P0.30 per liter for kerosene, effective from Tuesday morning.
The Department of Energy's Oil Industry Management Bureau (DOE-OIMB) warned that fuel prices are likely to continue rising in the coming months due to higher demand and persistent geopolitical tensions.
Geopolitical factors such as tensions between Iran and Israel, along with the failure of US peace talks between Russia and Ukraine, contribute to global oil price volatility and supply uncertainty.
With this week's adjustments, gasoline is now at its costliest point so far in 2025, with prices up by a net P12.10 per liter from end-2024 levels; diesel has increased by P12.45 per liter year-to-date, while kerosene saw an increase of P2.05 per liter.
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