Oil firms in the Philippines announced another fuel price increase effective February 10, marking the fifth straight weekly rise for gasoline, while diesel and kerosene climb for a seventh week.
On Monday, February 9, Shell Pilipinas, Seaoil, CleanFuel, and PetroGazz announced price adjustments effective the next day: P0.60 per liter for gasoline and kerosene, and P1 per liter for diesel. Jetti Petroleum President Leo Bellas attributed the hike to ongoing geopolitical tensions in the Middle East affecting supply as Europe shifts from Russian oil imports. He also noted that Chinese Lunar New Year festivities could have a short-term impact, with higher demand reducing diesel exports from China. Escalating US-Iran threats might further accelerate oil price rises, he added.
The Department of Energy (DOE) projected that shifting weather conditions would influence fuel demand, as warmer temperatures cut heating fuel use while cooler weather boosts it. Oil prices seesawed last week amid expectations of US-Iran de-escalation and fears of disruptions in the Strait of Hormuz. The previous week's increases were steeper: P0.80 for gasoline, P1.10 for kerosene, and P1.60 for diesel.
Based on DOE monitoring for the week of February 3 to 9 in Metro Manila, petroleum product prices ranged as follows: 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 hike, year-to-date gains stand at P3 per liter for gasoline, P6.40 for diesel, and P4.40 for kerosene—nearly double the net increases over the same period in 2025.
