June 17 fuel prices: Gasoline, diesel, kerosene to climb by almost P2 per liter

MANILA, Philippines — Motorists are facing yet another round of fuel price hikes starting Tuesday, June 17, with rates climbing by nearly P2 per liter.

Gasoline prices have surged for five straight weeks, while diesel has seen its third consecutive hike, quickly pushing net increases to a new high of almost P7 per liter.

Oil firms will raise gasoline and diesel prices by P1.80 per liter, while kerosene by P1.50 per liter. 

Shell Pilipinas, CleanFuel and Seaoil announced the big-time pump price hike on Monday, June 16. 

According to the Department of Energy’s Oil Industry and Management Bureau (DOE-OIMB), several factors are driving fuel prices up once again. 

One reason is the escalating hostilities between Israel and Iran. After Israel fired missile strikes against Iran, the latter retaliated, disrupting oil supply in the Middle East. 

Jetti Petroleum President Leo Bellas said the conflict has caused crude prices to rise by 5%. 

Aside from geopolitical tensions, the DOE-OIMB stated that market prices are also reacting to the prospect of a US-China trade agreement, the negative sentiment surrounding nuclear talks between the US and Iran, and declining oil supply in the US, despite high demand.

Last week, gasoline prices surged by P0.60 per liter, diesel by P0.95 and kerosene by P0.30. 

With this week’s hike, gasoline prices have risen by a total of P6.90 per liter, while diesel is up by P6.65 per liter. Kerosene, in contrast, remains P0.75 per liter cheaper compared to 2024 prices.

From June 3 to June 9, the prevailing retail prices of petroleum products in Metro Manila were as follows:  

• Gasoline (RON97/100) - P63.81
• Gasoline (RON95) - P49.60
• Gasoline (RON91) - P52.20
• Diesel - P53.65
• Diesel Plus - P54.55
• Kerosene - P68.42

The DOE has not yet issued its latest fuel price bulletin. Philstar.com will publish an update as soon as it is released.