Motorists should get ready as major oil retailers on Monday, January 20, officially announced a significant fuel price increase this week.
Major oil firms such as Shell Pilipinas, Cleanfuel, and Chevron Philippines Inc. (Caltex) said gasoline prices will once again go up by P1.65 per liter for the period of January 21 to 27, 2025, adding to last week’s P1.80/L increase.
Diesel prices, too, will increase by P2.70/L following the previous P0.90/L adjustment.
Kerosene will also see an increase of P2.50/L, after an increase of P0.80/L last week.
These adjustments will be implemented at 6 a.m. on Tuesday, January 21, for all companies, except Cleanfuel, which will raise prices at 4:01 p.m. on the same day.
Assistant Director Rodela Romero of the Department of Energy Oil Industry Management Bureau said last week that that stricter US and UK sanctions on Russian oil companies Surgutneftegas and Gazprom Neft are driving up shipping costs, primarily impacting Asian nations, including India and China.
“Kumukuha tayo ng finished product sa China,” Romero said.
When these adjustments are implemented, gasoline and diesel prices will have increased by P3.45 per liter and P5 per liter, respectively, since the start of 2025.
From January 14 to 20, the prevailing retail prices of petroleum products in Metro Manila were as follows: P69.20 per liter for RON97/100 gasoline, P69.25 for RON95 gasoline, and P61.90 for RON91 gasoline. Diesel was priced at P57.75 per liter, Diesel Plus at P70.29, and kerosene at P72.84.
With the upcoming price hike, gasoline prices are expected to reach around P70 per liter, diesel around P60 per liter, and kerosene about P75 per liter. (TCSP)
