Oil companies will raise gasoline prices by P0.30 per liter and roll back kerosene prices by P0.20 per liter starting 6 a.m. Tuesday to reflect movements in the global oil market. Diesel prices, however, will remain unchanged, according to advisories from Seaoil Philippines, Jetti Petroleum, PTT Philippines, Cleanfuel, and Chevron Philippines.
Jetti Petroleum president Leo Bellas said gasoline prices are likely to rise by P0.40 to P0.60 per liter due to strong demand from China, India, and Indonesia. Diesel prices are expected to stay stable, mirroring global crude trends that held firm amid lower-than-expected OPEC+ output increases.
Bellas explained that import costs, freight, and supplier margins—known as “premiums”—contribute to the price buildup. These premiums, he said, are expected to ease following the Israel-Hamas ceasefire, which may lead to lower crude and MOPS prices.
On Oct. 7, most firms raised gasoline and kerosene prices by P0.20 per liter and diesel by P0.80 per liter, partly due to the peso’s depreciation. Alena Mae S. Flores
So far this year, total net increases stand at P14.90 per liter for gasoline, P17.85 for diesel, and P5.65 for kerosene. Alena Mae S. Flores
