The various fuel retailers will roll out mixed fuel price adjustments starting Tuesday morning. Gasoline prices will go down by P0.10 per liter, while diesel will increase by P0.20 per liter and kerosene by P0.10 per liter. Companies such as Seaoil, PTT, and Jetti will implement the changes at 6:00 a.m.
Jetti Petroleum president Leo Bellas said the price movements are driven mainly by ongoing global geopolitical tensions. He noted that concerns over possible disruptions to Venezuela’s oil exports could support world oil prices, but these may be offset by continued global oversupply.
The situation follows the United States’ recent takeover of Venezuela, with President Donald Trump saying the US will run the country until a transition is completed. He also announced that major US oil firms would enter Venezuela to rehabilitate aging oil facilities, a process experts say could take years.
Bellas added that increased fuel output from major refineries worldwide could limit further price hikes, but the new geopolitical risks are likely to keep oil prices volatile.
For 2025, fuel prices ended with net increases of P20.50 per liter for gasoline, P21.05 for diesel, and P5.75 for kerosene. As of December 30, 2025 to January 5, 2026, average prices in Metro Manila stood at P53.10 per liter for gasoline, P56.30 for diesel, and P78.45 for kerosene, based on Department of Energy data.
Meanwhile, RCBC chief economist Michael Ricafort said the US move in Venezuela has not yet pushed global fuel prices higher. He pointed to lower oil prices on Monday, with New York Mercantile Exchange crude down 0.9 percent to $56.78 per barrel, citing expectations that US involvement could eventually improve Venezuela’s oil industry and output.
