Several oil companies announced fresh fuel price increases on Monday, set to take effect Tuesday at 6 a.m., marking the fourth consecutive week of hikes amid rising geopolitical tensions in the Middle East.
Price adjustments include:
- Petron Corporation: Gasoline +₱1.90/liter, Diesel +₱11.90/liter, Kerosene +₱1.40/liter
- Petro Gazz & Unioil Petroleum Philippines Inc.: Gasoline +₱2.50/liter, Diesel +₱12.50/liter
- Seaoil Philippines Inc.: Diesel +₱12.50/liter, Kerosene +₱2.00/liter (Gasoline unchanged)
- Jetti Petroleum Inc.: Gasoline +₱1.00/liter, Diesel +₱12.90/liter
- Shell Pilipinas Corporation: Gasoline +₱2.90/liter, Diesel +₱12.90/liter, Kerosene +₱2.40/liter
The Department of Foreign Affairs of the Philippines previously warned that the Middle East conflict could last four to eight weeks, potentially prolonging volatility in global oil markets.
Meanwhile, the Department of Energy of the Philippines reported receiving an initial shipment of 142,000 barrels of fuel (approximately 22.6 million liters) and is working to secure over 1.8 million additional barrels to strengthen reserves.
The agency assured the public that it continues to closely monitor supply levels.