Gasoline, diesel, kerosene pump prices to be hiked twice this week

Motorists will have to tighten their belts once again this week, as retailers on Monday announced two major upward adjustments on pump prices this week, following five straight weeks of increases for gasoline, three for diesel, and two for kerosene.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp., and Shell Pilipinas Corp. said they will hike prices per liter of gasoline by P1.75, diesel by P2.60, and kerosene by P2.40 at 6 a.m. on Tuesday, June 24, 2025.

They will implement the same changes at 6 a.m. on Thursday, June 26, reflecting the second tranche of adjustments after agreeing to the request of the Department of Energy (DOE) to implement the hikes on a staggered basis.

Cleanfuel will implement the same changes, excluding kerosene which it does not carry, at 8:01 a.m. on Tuesday, June 24.

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

The Department of Energy (DOE) earlier on Monday said firms agreed on a staggered pump price hike, in a bid to ease the burden of major adjustments.

The DOE’s Oil Industry Management Bureau (DOE-OIMB) earlier projected big-time increases this week, citing the conflict between Israel and Iran that threatens critical global shipping passage.

President Ferdinand “Bongbong” Marcos Jr. earlier said fuel subsidies would be given amid the anticipated pump price hike.

Firms last week hiked prices per liter of gasoline by P1.80 each, and kerosene by P1.50.

Latest data available from the DOE show that year-to-date adjustments stood at a net increase of P2.80 per liter for gasoline and P2.10 per liter for diesel, and a net decrease of P3.25 per liter as of May 13, 2025. — RSJ, GMA Integrated News