The various fuel retailers implemented another round of price adjustments Tuesday, marking the second consecutive week of mixed changes in the cost of petroleum products.
Seaoil and Caltex raised their gasoline price by P0.40 per liter while reducing diesel by P0.50 per liter and kerosene by P0.75 per liter. Meanwhile, Jetti and Clean Fuel also increased their gasoline price by P0.40 per liter but cut diesel by P0.50 per liter.
The price shifts are driven by global oil market dynamics, including analysts’ concerns over a potential crude oil supply surplus in 2025. Despite the Organization of the Petroleum Exporting Countries (OPEC) and its allies’ decision to delay production hikes and extend deep output cuts until the end of 2026, market uncertainty continues to affect fuel pricing.
According to data from the Department of Energy (DOE), as of December 3, the price of gasoline in Manila (RON91) averaged P55.60 per liter, diesel at P53.25, and kerosene at P71.74. Year-to-date adjustments as of the same date reflect a net increase of P11.35 per liter for gasoline and P9.55 per liter for diesel, while kerosene saw a net decrease of P1.90 per liter.
