Local fuel retailers raised their prices of petroleum products effective today, Tuesday, with gasoline prices up by P1.35/liter, diesel by P1.30 and kerosene by P1.10.
This reversed the previous drops in pump prices in 2025, which recorded last week their biggest rollback so far this year.
Explaining the new price hike, an independent fuel retailer said global crude prices have recovered from supply fears due to the United States’ pressure on Iran over its nuclear program and the former’s imposition of new sanctions to curb the latter’s oil exports.
Among the fuel retailers, Seaoil increased the per-liter prices of gasoline by P1.35, diesel by P1.30, and kerosene by P1.10 by 6 am.
PTT, Jetti and Clean Fuel imposed similar price adjustments for gasoline and diesel. These companies are not selling kerosene products.
The adjusted prices of Jetti and PTT will take effect from 6 am onward, and Clean Fuel will impose the new prices from 4:01 pm.
As of April 8, data from the Department of Energy (DOE) showed that prices per liter in Manila stood at P56.35 for gasoline (RON91), P53.10 for diesel and P71.37 for kerosene.
As of the same date, the agency recorded total net increases in the year-to-date of P4.55 per liter for gasoline, P4.45 per liter for diesel and P0.40 per liter for kerosene .
Leo Bellas, president of Jetti Petroleum Inc., told reporters that this week’s pump price increase was also due to the plan of the Organization of the Petroleum Exporting Countries and its allies to “curb output to compensate for pumping above agreed quotas and the ongoing peak maintenance season of refineries.”
Rodela Romero, DOE’s Oil Industry Management Bureau director, said that hopes for a possible easing of the trade war between China and the US were also pushing oil prices up.
China is currently the world’s biggest importer of petroleum products.
