The country’s oil firms will apply mixed price adjustments starting 6 a.m. Tuesday, with kerosene increasing by P1.30 per liter and diesel by P0.60 per liter, while gasoline will drop by P0.20 per liter.
Seaoil Philippines, Jetti Petroleum, Petron Corp., PTT Philippines, and Cleanfuel issued separate advisories announcing the latest changes. Last week, Jetti Petroleum president Leo Bellas said middle distillate prices—diesel, jet fuel, and kerosene—remain strong due to tight supply from Northeast Asia amid refinery maintenance, unplanned outages, and limited exports from China.
Bellas said Russian supply disruptions also contribute to tight distillate markets. Meanwhile, Asian gasoline prices softened as regional demand slowed, further weighed down by rising U.S. gasoline inventories, a sign of weakening consumption.
He added that U.S. sanctions imposed on November 21 against Russian oil majors Lukoil and Rosneft, as well as renewed U.S. pressure to end Russia’s war in Ukraine, could influence fuel prices in upcoming trading sessions.
Current net increases stand at P19.70 per liter for gasoline, P24.65 for diesel, and P9.95 for kerosene, including Tuesday’s adjustments. On Nov. 18, oil firms raised gasoline and diesel prices by P1.20 per liter.
