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Fuel Prices in Philippines Set to Surpass P6 Per Liter Increase
Fuel prices in the Philippines are expected to rise by over P6 per liter for gasoline and diesel due to supply disruptions stemming from the Iran and Ukraine conflicts. This will push prices in Metro Manila to as high as P106.5 for gasoline and P106.6 for diesel.
GASOLINE and diesel prices are set to increase by more than P6 per liter, fuel retailers said. In separate advisories on Monday, oil companies announced a fresh round of hikes starting Tuesday (July 28). Unioil Petroleum Philippines, Inc. and Jetti Petroleum, Inc. will increase gasoline prices by P6.80 per liter and diesel prices by P7.30 per liter. Shell Pilipinas Corp. and Seaoil Philippines, Inc. will impose similar adjustments for gasoline and diesel, while increasing kerosene costs by P4.20 per liter. The Department of Energy has yet to announce its prescribed price guidance for the week. Jetti President Leo P. Bellas earlier said the upward price adjustments was driven by supply disruptions caused by the Iran and Ukraine conflicts, which have constrained global oil flows. “The disruption of oil supplies has lifted the risk of delayed crude arrivals for Asian refiners, which supported diesel and middle distillate prices as product availability continues to tighten due to slowing refinery output recovery,” he said at the weekend. The latest adjustments bring the prevailing prices of fuel in the National Capital Region to as high as P106.5 per liter for gasoline, P106.6 per liter for diesel plus, and P138.30 per liter for kerosene. — Sheldeen Joy Talavera
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