After two weeks of back-to-back rollbacks, fuel prices headed north again as fuel retailers forewarned last week due to Red Sea tensions, with Caltex, however, announcing on Monday only mild price hikes.
Effective today, July 15, oil companies are implementing fresh price hikes across gasoline, diesel, and kerosene products.
Tuesday’s rise in pump prices follows a resurgence in global petroleum demand and renewed attacks on commercial vessels navigating the Red Sea — a critical choke point for global oil shipments.
For most fuel retailers, the increases are as follows:
• Gasoline: Up by P0.70 per liter
• Diesel: Up by P1.40 per liter
• Kerosene: Up by P0.80 per liter
Caltex, however, is applying more tempered adjustments:
• Gasoline: P0.35/liter increase
• Diesel: P0.70/liter increase
• Kerosene: P0.50/liter increase
The Department of Energy (DOE) pointed to volatile global supply dynamics as the key driver of the price hikes, citing both geopolitical risks and rising demand from major economies. The Red Sea attacks in particular have disrupted shipping lanes, prompting insurance surcharges and longer, costlier routes for tankers — all of which trickle down to the pump.
Price hikes timing
The schedule of rollout depends on the fuel company:
• Seaoil, PTT, Jetti – starting at 6:00 am
• Caltex – from 6:01 am
• Clean Fuel – from 4:01 pm
Not all retailers sell kerosene, so the adjustments apply only to available products. Clean Fuel, PTT, and Jetti, for example, carry only gasoline and diesel.
The running tally
With today’s adjustment, the year-to-date net change in pump prices now stands at:
• Gasoline: +P9.00 per liter
• Diesel: +P11.35 per liter
• Kerosene: +P1.85 per liter
These figures reflect the cumulative effect of weekly adjustments since January.
What NCR is paying
DOE monitoring data for the period of July 8 to 14 show that average prices in the National Capital Region were:
• P52.40/liter for RON 91 gasoline
• P53.20/liter for diesel
• P72.00/liter for kerosene
Fuel prices remain one of the most closely watched indicators by transport groups and low-income households, as they directly influence fares, food prices, and power costs in off-grid areas.
