January 13, 2025 | 10:28am
MANILA, Philippines — Motorists should brace for another fuel price hike, with gasoline and kerosene prices set to increase by nearly P1 per liter starting Tuesday, January 14.
Oil companies announced on Monday, January 13, that diesel prices will rise by P0.90 per liter, while gasoline prices will go up by P0.80 per liter.
The adjustments were detailed in advisories issued by PetroGazz, Seaoil, CleanFuel and Shell Pilipinas.
For some firms, like Seaoil and Shell Pilipinas, kerosene prices will also climb by P0.80 per liter.
This marks the second consecutive week of fuel price hikes in 2025, with prices surpassing the Department of Energy’s (DOE) forecast.
The DOE had projected increases of P0.40 to P0.70 per liter for gasoline, P0.45 to P0.75 per liter for diesel, and P0.65 to P0.75 per liter for kerosene.
According to the DOE, the upward trend is attributed to a decline in the United States crude oil inventories due to colder temperatures.
Last week, oil firms raised gasoline and kerosene prices by P1 per liter and diesel prices by P1.40 per liter.
The DOE also reported on January 9 that fuel prices saw an overall surge in 2024.
Gasoline registered a net increase of P12.75 per liter, while diesel rose by about P11 per liter. Kerosene, however, recorded a net decrease of P2.70 per liter.
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