Over P1 per liter fuel price hike seen next week

Motorists should brace for an over P1 per liter increase in pump prices to be implemented in the coming week.

“Based on the four-day trading in MOPS (Mean of Platts Singapore), we will be experiencing an increase in the prices of petroleum products by next week, June 17, 2025,” Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said.

The estimated ranges in upward price adjustments are as follows:

• Gasoline - P0.90 to P1.40 per liter
• Diesel - P1.00 to P1.40 per liter
• Kerosene - P1.00 to P1.20 per liter

The Energy official cited the following “relevant news” in the oil market as factors affecting prices:

• Crude prices extend gains on positive US - China trade signals
• US - Iran nuclear negotiations remain stalled
• Oil demand growth to continue until the next 2 1/2 decades, says OPEC Secretary General

Fuel firms announce official price movements every Monday, to be implemented on the following day.

On Tuesday, petroleum retailers hiked the prices per liter of gasoline by P0.60, diesel by P0.95, and kerosene by P0.30.—AOL, GMA Integrated News