Big-Time Fuel Price Hike Expected Next Week

Motorists should prepare for another significant increase in fuel prices next week, marking the third consecutive hike in 2025.

Expected Price Adjustments

Based on international fuel trading over the past four days, the Department of Energy’s (DOE) Oil Industry Management Bureau anticipates the following increases:

• Gasoline: ₱1.35 to ₱1.60 per liter
• Diesel: ₱2.30 to ₱2.60 per liter
• Kerosene: ₱2.30 to ₱2.50 per liter

These adjustments follow a recent ₱0.80-per-liter hike for gasoline and kerosene, and a ₱0.90 increase for diesel on January 14, 2025.

Global Factors Driving the Increase

DOE Assistant Director Rodela Romero attributed the price hike to developments in the international oil market, particularly the new round of sanctions imposed by the US and UK on Russian oil exports.

“This will result in a reduction of Russian exports, thereby pushing global crude prices higher in the near term, as the market adjusts to the loss of supply from one of the world’s largest oil producers,” Romero explained.

Year-to-Date Increases

As of mid-January, the total net increase in fuel prices for 2025 is:

• Gasoline: ₱1.80 per liter
• Diesel: ₱2.30 per liter
• Kerosene: ₱1.80 per liter

Prevailing Fuel Prices

In Metro Manila, the latest DOE data shows retail prices per liter as follows:

• Gasoline: ₱52.25 to ₱75.62
• Diesel: ₱49.00 to ₱65.85
• Kerosene: ₱70.91 to ₱82.20

Oil firms are set to announce official price adjustments on Monday, which will take effect on Tuesday.