The various fuel stakeholders are bracing for another round of pump price hikes on Tuesday, with gasoline expected to rise by P1.20 to P1.50 per liter and diesel by P0.90 to P1.10, according to Jetti Petroleum Inc.’s five-day trading analysis.
Jetti president Leo Bellas traced the increases to tight global supply, driven by ongoing refinery turnarounds and concerns over how Western sanctions on Russian oil may further disrupt trade flows. He added that gasoline prices remain supported by firm regional demand, falling inventories, and reduced exports from major producers.
Despite the projected uptick, Bellas said that further price escalation may be limited as refineries resume operations following seasonal maintenance.
The Department of Energy (DOE) likewise projected increases for kerosene of about P1 per liter, citing the same supply-side pressures.
Last week, fuel firms raised gasoline prices by P0.50 per liter and diesel by P1 per liter, while a planned P0.90 increase for kerosene was halted due to a price freeze under Proclamation No. 1077, which placed the country under a state of calamity.
Year-to-date adjustments reflect net increases of P18.70 per liter for gasoline, P22.85 for diesel, and P8.65 for kerosene. DOE data for November 11–17 show NCR pump prices averaging P56.50 for RON 91 gasoline, P58.75 for diesel, and P79.40 for kerosene.
