Motorists will face higher fuel costs starting Tuesday as gasoline prices rise by P0.40 per liter and diesel by P0.30, according to the various fuel retailers. However, kerosene users will benefit from a P0.10 per liter cut.
Companies such as Caltex and Seaoil will apply the full set of adjustments, while Jetti, Clean Fuel, and PTT will mirror the gasoline and diesel hikes but do not offer kerosene. The timing of price rollouts varies, with Clean Fuel adjusting at 4:01 p.m., Caltex at 6:01 a.m., and others at 6 a.m.
This week’s changes bring the year-to-date net increase to P4.50 per liter for gasoline and P3.90 for diesel, while kerosene has seen a net decrease of P2.55 per liter.
The mixed adjustments reflect global oil market uncertainties. Jetti Petroleum president Leo Bellas cited weakened oil prices due to expectations of oversupply from OPEC+ easing production cuts, alongside tightening supply concerns from U.S. sanctions on Venezuelan crude.
Rodela Romero of the Department of Energy confirmed these factors and noted that an anticipated economic slowdown in Asia and changing energy policies in countries like India are also dampening global demand, which in turn affects prices.
As of May 20, pump prices in Metro Manila stood at P52.50 per liter for gasoline (RON91), P54.15 for diesel, and P68.92 for kerosene, according to DOE data.
