In brief
On Tuesday, Philippine oil firms announced a 3.50‑peso hike to gasoline, trimming diesel by one peso and kerosene by 1.90 pesos per liter. Shell and Seaoil were among the companies making the adjustments, as reported through local media. The price moves follow last week’s opposite shifts and reflect the country’s reliance on imports amid volatile global fuel markets.
Oil companies in the Philippines raised gasoline prices by 3.50 pesos per liter on Tuesday, according to a report from Xinhua citing local media outlet The Manila Times. Shell, Seaoil, PetroGazz and Jetti Petroleum were listed as the firms making the adjustment. While gasoline increased, diesel was cut by 1 peso per liter and kerosene by 1.90 pesos per liter, with Shell and Seaoil also reducing kerosene prices.
These changes come after last week’s opposite movements, when gasoline fell by 0.30 pesos per liter and diesel and kerosene rose by 1.20 and 0.50 pesos per liter respectively, the report added. The adjustments reflect the country’s limited domestic refining capacity and heavy reliance on imported energy.
"The price adjustments are aimed at aligning with international market fluctuations," a source familiar with the sector said. The statement was offered without attribution and is not confirmed as a direct comment from any company representative.
The shift could affect commuters and commercial drivers across the archipelago, though local authorities have not issued an official response yet. The Philippine government continues to monitor fuel price movements amid concerns over inflation.