Major oil firms in the Philippines are raising fuel prices again today, with diesel and kerosene marking their seventh straight week of increases. The hikes include P1 per liter for diesel and P0.60 per liter for gasoline and kerosene. This occurs amid volatile global oil prices due to geopolitical tensions.
In separate advisories, Jetti, Seaoil, Petron, Caltex, and PTT Philippines announced upward adjustments of P1 per liter for diesel and P0.60 per liter for gasoline and kerosene.
Diesel and kerosene prices have been rising weekly since December 30, 2025, while gasoline has followed an upward trend since mid-January. With these latest changes, the year-to-date net increases stand at P3 for gasoline, P6.40 for diesel, and P4.40 for kerosene per liter.
In a statement yesterday, the Department of Energy noted that global oil prices remain volatile, with no firm agreement reached to ease tensions between the United States and Iran. US commercial crude inventories fell by 3.5 million barrels to 420.3 million barrels as of February 4, tightening global supply further, according to Energy Information Administration data.
"Diesel prices have found support from weather-related supply and demand issues, as well as the continued geopolitical tension in the Middle East that directly affects supply dynamics at a time when Europe is moving away from Russian-origin supplies," said Jetti president Leo Bellas.
He added that fuel prices are also rising amid mounting fears of disruption to oil flows in the Strait of Hormuz, a key trade route for about 20 percent of the world’s oil and gas supply. Last week, gasoline, diesel, and kerosene prices increased by P0.80, P1.60, and P1.10 per liter, respectively.
