The various fuel retailers again raise the price of petroleum products beginning Tuesday, following two weeks of mixed adjustments. Seaoil and Caltex increased the price of gasoline and diesel by ₱0.80 per liter, along with a ₱0.10 rise for kerosene. Similarly, PTT, Clean Fuel, and Jetti implemented an ₱0.80 hike for their gasoline and diesel.
This price surge follows ongoing geopolitical tensions in the Middle East, especially the change in Syrian leadership, which has added uncertainty and driven oil prices higher. Additional factors include potential tightening of global crude supplies, with the EU’s sanctions on Russia and China’s economic stimulus, which may boost demand.
As of 10 December, the Department of Energy reported the price of gasoline in Manila at ₱56 per liter, diesel at ₱52.75, and kerosene at ₱71.02. Gasoline has seen a four-week increase totaling ₱3.25 since 26 November while diesel has risen by ₱9.55 year-to-date.
