MANILA, Philippines — Motorists will brace for another fuel price hike of up to P1 per liter on Tuesday, February 10, as gasoline posts its fifth straight weekly increase, while diesel and kerosene climb for a seventh week.
Oil firms will increase gasoline and kerosene prices by P0.60 per liter and diesel by P1 per liter, with diesel recording the biggest gains among petroleum products in the past month.
Shell Pilipinas, Seaoil, CleanFuel and PetroGazz announced the upward price adjustments on Monday, February 9.
Jetti Petroleum President Leo Bellas attributed the anticipated fuel price hike to several factors, including persistent geopolitical tensions in the Middle East that directly affect supply flows as Europe shifts away from Russian oil imports.
Bellas said Lunar New Year festivities may also have a short-term impact on domestic prices, as higher demand during the period may have reduced diesel exports from China. Escalating threats between the United States and Iran could also further accelerate the rise in oil prices, he added.
The Department of Energy (DOE) also projected that shifting weather conditions would play a role in fuel demand, as warmer temperatures reduce heating fuel consumption, while cooler weather boosts demand.
However, Bellas noted that oil prices "seesawed" last week, fluctuating on expectations of a possible de-escalation in US-Iran tensions and fears of disruptions to oil flows through the Strait of Hormuz, which pushed prices higher.
Last week's price hike was steeper, with gasoline rising by P0.80 per liter, kerosene by P1.10 per liter, and diesel by P1.60 per liter.
Based on DOE's monitoring, petroleum products sold at Metro Manila stations for the week of February 3 to 9 fell within the following price ranges:
- Gasoline (RON97/100): P52.20 to P74.63
- Gasoline (RON95): P50 to P75.89
- Gasoline (RON91): P49 to P67.39
- Diesel: P48 to P67.25
- Diesel Plus: P55.15 to P77.38
- Kerosene: P75.00 to P96.49
After this week's hike, gasoline prices would have a year-to-date increase of P3 per liter, while diesel and kerosene would climb by P6.40 and P4.40 per liter, respectively — almost double the net increases recorded over the same period in 2025.
— with reports from the Philippine News Agency
No comments:
Post a Comment