Motorists and enterprises will once again face higher fuel costs this week, as local oil companies announce another round of price hikes amid volatile global crude markets and currency headwinds.
Effective Tuesday, August 5, fuel prices will increase across most brands, with gasoline prices rising by as much as ₱1.90 per liter, diesel by ₱1.20, and kerosene by ₱1.00, according to separate advisories from fuel retailers.
Caltex, however, posted lower upward adjustments at ₱1.30 for gasoline, ₱0.90 for diesel, and ₱0.75 for kerosene. The company remains the only local player adjusting pump prices twice weekly, with changes every Tuesday and Thursday.
Seaoil, Jetti: 6:00 AM
Caltex: 6:01 AM
Jetti Petroleum President Leo Bellas attributed the continued uptick in fuel prices to global supply concerns and macroeconomic uncertainty, citing:
Lingering trade tensions between the US and EU
Ongoing sanctions affecting Russian oil supply
A sharper-than-expected drop in US gasoline inventories, suggesting strong summer driving demand
Depreciation of the Philippine peso versus the US dollar, making oil imports more costly
“Tariff threats and delays in US interest rate cuts are shaking market confidence and adding to the upward pressure on crude,” Bellas said.
This week’s hike compounds fuel inflation that has steadily built up over the year, with year-to-date increases now at ₱11.20/liter for gasoline, ₱14.25 for diesel, and ₱3.95 for kerosene. The rising prices are likely to impact:
Public transportation costs, as operators contend with steeper diesel prices
Logistics and delivery services, which are heavily reliant on fuel
Households, especially those dependent on kerosene for cooking or lighting in off-grid areas
Recent Price Movement Snapshot (July 29 – August 4):
Gasoline: ↑ ₱1.90
Diesel: ↑ ₱1.20
Kerosene: ↑ ₱1.00
In the National Capital Region, the Department of Energy reported pump prices last week averaging ₱53.40/liter for RON 91 gasoline, ₱52.60 for diesel, and ₱73.90 for kerosene.
With no immediate relief in sight, both commuters and businesses are bracing for continued volatility in fuel costs — a key driver of inflation and consumer spending pressures.
