Fuel prices are expected to go up again this Tuesday, marking the third straight week of increases. Gasoline prices may rise by ₱0.20 to ₱0.40 per liter, while diesel could increase by a much bigger ₱1.20 to ₱1.40 per liter. Kerosene prices may also climb by as much as ₱0.45 per liter, according to industry and government estimates.
Oil companies said the higher prices are being driven by global supply concerns, including production stoppages in Kazakhstan, export limits in the Black Sea, and ongoing geopolitical tensions. Stronger demand from China and colder weather in Europe, which boosts fuel use, are also pushing prices higher. While gasoline supply remains relatively ample, expectations of lower exports from China are keeping prices from falling.
The continued fuel hikes are expected to affect both households and businesses. Transport costs may rise, which could lead to higher prices of basic goods, while families may feel the strain from increased spending on fuel, electricity, and cooking needs. Small businesses that rely heavily on transportation and fuel are also likely to face higher operating costs.
Last week, oil firms already raised prices by ₱1 per liter for gasoline, ₱2 for diesel, and ₱1.50 for kerosene. So far this year, fuel prices have gone up by ₱1.20 per liter for gasoline, ₱2.40 for diesel, and ₱1.90 for kerosene. As of mid-January, fuel prices in Metro Manila average ₱54.10 per liter for gasoline, ₱54.40 for diesel, and ₱78.85 for kerosene.
