Thursday, 22 May 2025, 6:16 am

Fuel products cost P0.10 more per liter

The various retailers have adjusted higher the cost of fuel products after a brief rollback last week.

Caltex and Seaoil increased the price of their gasoline, diesel and kerosene by P0.10 per liter.

Clean Fuel, PTT and Jetti also adjusted their gasoline and diesel prices by P0.10 per liter.

Data show the Manila price of gasoline (RON95) at P64.83 per liter, diesel at P59.20 per liter and kerosene at P72.04 per liter. 

Department of Energy data also show the adjustments as a net reduction of P0.10 per liter for gasoline, P0.35 per liter for diesel and P1.40 per liter for kerosene.

Reuters has reported that as of Friday last week, Brent crude futures were at $78.76 a barrel while US West Texas Intermediate crude futures rounded the week at $73.81 per barrel.

Analysts said the ongoing tensions in the Middle East has widened the trading premium on the commodity.

Traders have said this could worsen if more shipping companies elect, like Maersk, to take the long route and round the Cape of Good Hope instead of taking the Suez Canal directly to the Red Sea where shipping conditions have increasingly become more perilous.

Latest US data showing higher employment in December boosting fuel demand down the line are an aggravating influence.

Traders said there remains apprehension crude oil prices will continue to rise the rest of the year given the view that the US Federal Reserve, the most influential of central banks, begins reducing its interest rates as early as March. 

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