Motorists will face another round of fuel price hikes starting today, with gasoline rising by P1.35 per liter, diesel by P0.80, and kerosene by P0.70.
Major oil companies like Shell, Caltex, and Seaoil announced the increases, while Petro Gazz, Cleanfuel, PTT Philippines, and Jetti will implement the same adjustments, excluding kerosene.
The Department of Energy attributed the higher prices to tightened global crude supply, US sanctions on Iran’s oil shipping, and a sharper-than-expected drop in US crude inventories.
Jetti president Leo Bellas added that easing economic worries in the US and potential tariff reductions on Chinese imports also contributed to rising oil prices.
As of today, the year-to-date net increase stands at P3.65 per liter for gasoline and diesel, while kerosene prices have dropped by P1.10.
Source: PhilNews24 | April 29, 2025
