The various fuel retailers are set to implement significant price increases on Tuesday, with gasoline and kerosene rising by ₱1.20 per liter, and diesel surging by ₱1.70 per liter, marking a notable reversal after two weeks of rollbacks.
The latest adjustments come after earlier cumulative reductions totaling ₱0.85 for gasoline, ₱1.55 for diesel, and ₱2.15for kerosene. The hikes reflect recent gains in global crude prices, driven by renewed optimism in fuel demand following the U.S.-China tariff détente, which signaled easing trade tensions.
Major players such as Seaoil and Caltex are leading the price hikes, while Clean Fuel and Jetti, which do not sell kerosene, are matching the increases for gasoline and diesel. The timing of adjustments varies, with some retailers implementing changes as early as 6 a.m., and others by 4:01 p.m.
Jetti Petroleum Inc. president Leo Bellas cited tightening U.S. fuel inventories and the seasonal uptick in consumption ahead of summer as additional upward pressures. He noted, however, that prices were tempered by expectations of a U.S.-Iran nuclear deal and unexpected increases in U.S. crude stockpiles.
DOE Oil Industry Management Bureau director Rodela Romero confirmed these drivers and added that supply-side signals from OPEC, including projected slower 2025 output growth and declining capital expenditure, also influenced the price shift.
According to Department of Energy data as of May 6, net price movements for the year reflect a ₱3.10 per liter increase for gasoline and ₱3.00 for diesel, while kerosene remains down ₱1.10 year-to-date. As of 13 May, average pump prices in Metro Manila stood at ₱51.85 for gasoline (RON91), ₱49.75 for diesel, and ₱67.50 for kerosene.
The upward price correction underscores the volatility of global oil markets and its ripple effects on local fuel economies, particularly as demand strengthens heading into peak travel season.
