Motorists will face higher fuel costs starting today, Monday, as oil companies roll out significant price hikes at the pumps following renewed terror attacks in the Red Sea and signs of firm global petroleum demand.
According to fuel retailers, gasoline prices will rise by P0.70 per liter, diesel by P1.40, and kerosene by P0.80, effective 15 July. These adjustments apply to most companies, with the exception of Caltex, which announced more moderate increases: P0.35 per liter for gasoline, P0.70 for diesel, and P0.50 for kerosene.
Energy analysts attribute the surge to supply chain disruptions stemming from renewed assaults on shipping routes in the Red Sea—a critical artery for global oil transportation. The attacks have rattled markets and sent crude prices climbing, directly influencing pump prices in the Philippines.
Seaoil and Caltex will raise prices across all three fuel products, while PTT, Jetti, and Clean Fuel—who do not sell kerosene—are taking a divergent approach, implementing cuts to gasoline and diesel prices.
Fuel price adjustments will take effect at varying times:
- 6:00 AM for Seaoil, Jetti, and PTT
- 6:01 AM for Caltex
- 4:01 PM for Clean Fuel
The hike breaks a two-week streak of price rollbacks, adding pressure to household and transport budgets already strained by cumulative increases this year. Year-to-date, net increases have reached P9 per liter for gasoline, P11.35 for diesel, and P1.85 for kerosene, according to Department of Energy (DOE) data.
Last week, the per-liter pump price in Metro Manila averaged P52.40 for RON 91 gasoline, P53.20 for diesel, and P72 for kerosene, DOE figures show.
With geopolitical tensions showing no sign of easing, experts caution that further volatility in global oil prices could spell continued uncertainty—and added burden—for Filipino consumers in the weeks ahead.
