Fuel price hike seen next week

Motorists should brace for another round of increase in fuel pump prices by petroleum retailers in the coming week.

"Based on the four-day trading, prices of petroleum products such as gasoline, diesel and kero[sene] in the domestic pump are expected to increase by more or less P0.50 per liter," Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said.

The DOE-OIMB official cited the following factors for the anticipated fuel price hike:

• OPEC holds steady on oil demand growth forecasts
• Speculation that US President Donald Trump's tariff policies will slow global economic growth and energy demand

Jetti Petroleum, citing the Mean of Platts Singapore average in the past four days, said the estimated price adjustment for diesel could range from P0.70 to P0.90 per liter while gasoline prices could go up between P0.30 and P0.50 per liter.

Fuel retailers announce price adjustments every Monday, to be implemented on the following day.

Effective Tuesday, July 15, 2025, oil companies hiked the prices of petroleum products by P0.70 per liter for gasoline, P1.40 per liter for diesel, and P0.80 per liter for kerosene.

This brought the year-to-date total price adjustments to a net increase of P9 per liter for gasoline, P11.35 per liter for diesel, and P1.85 per liter for kerosene. — VDV, GMA Integrated News