Consumers will experience higher pump prices of P0.80 per liter for diesel and P0.20 per liter for gasoline and kerosene effective 6am today due to ongoing geopolitical tensions.
Seaoil Philippines, Jetti Petroleum, PTT Philippines, Chevron Philippines and Cleanfuel issued separate advisories of the latest oil price hike.
The oil firms initially announced a possible mixed oil price movement this week with diesel prices increasing by as much as P1 per liter and kerosene by around P0.25 per liter.
Gasoline was expected to have a rollback or increase of around P0.10 per liter.
Jetti Petroleum president Leo Bellas said last week crude oil prices declined due to concerns about a market glut from the prospect of higher OPEC+ production output.
He said the diesel market remained strong due to shifting of regional flows to the West to meet the demands from the US and Europe as the ongoing autumn refinery maintenance, peak harvest season demand, and Russia’s partial diesel export ban have raised the risk of supply shortfalls.
He said the weaker peso against the US dollar is also expected to “further push the potential movement of domestic pump prices next week to the upside.”
Bellas said worries that the potential tighter sanctions that could further disrupt Russian crude exports and the stockpiling demand from China could limit the decline in oil prices.
Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau said several factors affected the movement of prices last week, including the US imposing new sanctions on Iran for its non-compliance to its commitments under the 2015 nuclear deal.
Romero said world prices were also affected by concerns about global supply glut as OPEC+ is set to increase its crude production levels.
“Traders are cautious ahead of the OPEC+ October 5 meeting with prices reacting sharply to headlines rather than fundamentals,” she said.
On Sept. 30, 2025, , most oil companies implemented a per liter decrease of P0.20 for gasoline and price increase of P0.90 per liter for diesel and kerosene. Year-to-date total net increase stands at P14.70 per liter for gasoline, P17.05 per liter for diesel and P5.45 per liter for kerosene.
