Pump prices up by over P1/liter Tuesday, April 1, 2025

Pump prices of fuel products will be hiked for the second straight week, as firms on Monday announced a major pump price increase.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp. and Shell Pilipinas Corp. said they will increase prices per liter of gasoline by P1.40, and diesel and kerosene by P1.20 each.

Cleanfuel and Petro Gazz will implement the same changes, excluding kerosene which they do not carry.

The adjustments will take effect at 6 a.m. on Tuesday, April 1, except for Cleanfuel which will hike prices at 4:01 p.m. the same day.

Other firms have yet to make similar announcements for the week.

The Department of Energy - Oil Industry Management Bureau (DOE-OIMB) earlier projected a big-time pump price hike this week, following the US sanctions on Iran, the threats of tariffs on nations buying Venezuelan crude oil, and the continued Russia, Ukraine attacks on energy installations.

Retailers last week hiked prices per liter of gasoline by P1.10, and diesel and kerosene by P0.40 each.

This brought year-to-date adjustments to a net increase of P3.25 per liter for both gasoline and diesel, and a net decrease of P0.30 per liter for kerosene as of March 25, 2025. — RSJ, GMA Integrated News