Domestic pump prices went up effective 6 a.m. today (Tuesday) by as much as P0.70 per liter to reflect the volatility in world oil prices.
Oil firms raised the prices of gasoline by P0.70 per liter, diesel by P0.40 per liter and kerosene by P0.20 per liter due to the threat of possible supply disruption on the international oil market.
PetroGazz, Seaoil Philippines. Jetti Petroleum and Cleanfuel issued separate advisories of the latest oil price hike.
DOE Oil Industry Management Bureau director Rodela Romero attributed last week the movement in global oil prices to the alarming Kazakhstan supply disruption triggered by a recent Ukrainian drone attack on a Russian pumping station; a G7 statement proposing to tighten the oil price cap on Russia to pressure it to negotiate a peace agreement in Ukraine; and reports of that OPEC+ is considering delaying output hikes to begin this April.
Jetti Petroleum president Leo Bellas said last week the volatility in world oil prices was due to the disruption following the attack in Russian oil infrastructure.
Oil firms also raised prices on Feb, 18, 2025 by P0.80 per liter for gasoline and diesel and kerosene by P0.10 per liter, which led to a year-to-date net increase for gasoline, diesel and kerosene at P4.05, P4.35 per liter and P2.70 per liter, respectively.
Prevailing retail prices of petroleum products for the National Capital Region as of Feb. 11 to 17 showed that gasoline sells from P52 to P78.87 per liter, diesel from P50 to P74.60 per liter and kerosene from P72.54 to P84.70 per liter.
Pump prices vary depending on the brand, location and market forces.