Motorists are seeing mixed price adjustments at the pumps Monday, with gasoline prices rising while diesel and kerosene prices drop.
The various players that include Seaoil, Jetti, Clean Fuel, and PTT, adjusted their fuel prices in response to shifting global market conditions. Seaoil raised gasoline prices by P0.70 per liter but decreased diesel by P1.15 and kerosene by P0.90 per liter. Jetti, Clean Fuel, and PTT also upped gasoline prices by P0.70 but lowered diesel prices by the same amount.
The price shifts come on the heels of global uncertainty following US President Donald Trump’s tariff hikes imposed against Canada, Mexico, and China, which fuel fears of a potential trade war. The move has raised concerns about global economic growth, energy demand, and fuel prices.
According to Leo Bellas, president of Jetti Petroleum Inc., while the trade tension contributes to the mixed pricing trends, other factors are also at play. These include increased diesel export volumes from India and China, as well as seasonal demand spikes for gasoline due to the Lunar New Year holiday.
The latest data from the Department of Energy (DOE) reveals that as of January 28, the average price of gasoline (RON91) in Manila stood at P58.05 per liter, diesel at P61.25, and kerosene at P75.27. Over the past five weeks, prices have surged by P2.65 for gasoline, P4.80 for diesel, and P3.80 for kerosene.
With the geopolitical situation and seasonal demand continuing to shape fuel markets, Filipino motorists can expect further fluctuations in prices in the weeks ahead.
