Fuel prices climb for the second consecutive week, with motorists across the country facing higher pump rates starting tomorrow, Tuesday, amid a weaker peso and global supply concerns tied to Red Sea transport disruptions.
According to oil company announcements, gasoline will rise by up to ₱0.40 per liter, diesel by ₱1.10, and kerosene by ₱0.70. The increases follow last week’s adjustments and highlight the volatility in the global oil market and currency exchange rates.
The local currency’s continued depreciation against the US dollar is increasing import costs, while heightened geopolitical tensions in the Red Sea, a key crude oil shipping route, are driving premiums higher.
“The peso’s depreciation this week significantly widened the potential for local price hikes,” said Leo Bellas, president of Jetti Petroleum Inc., noting the impact of currency movements despite softened global diesel prices last week.
- Seaoil: ₱0.40 (gasoline), ₱1.10 (diesel), ₱0.70 (kerosene) – effective 6:00 AM
- Caltex: ₱0.20 (gasoline), ₱0.75 (diesel), ₱0.50 (kerosene) – effective 6:01 AM
- Clean Fuel: Price cut for gasoline and diesel (no kerosene) – effective 4:01 PM
Year-to-date net increases
- Gasoline: +₱9.40/liter
- Diesel: +₱12.45/liter
- Kerosene: +₱2.55/liter
Metro Manila average pump prices (DOE, July 15–21)
- RON 91 Gasoline: ₱53.10/liter
- Diesel: ₱54.60/liter
- Kerosene: ₱72.80/liter
Analysts said fuel prices should prove tentative in the coming weeks.
