Four straight weeks of hikes push diesel's net increase to P15 per liter

MANILA, Philippines — Motorists face another fuel price hike on Tuesday, September 16, marking the fourth straight week of increases. The uptick, however, will be tempered by the growing global oil supply.

Oil firms will increase gasoline prices by P0.10 per liter, diesel by P0.50 per liter and kerosene by P0.10 per liter. 

Shell Pilipinas, CleanFuel and Seaoil have announced the upward price adjustments in separate advisories on Monday, September 15. 

The Department of Energy (DOE) said the latest price hike was partly driven by geopolitical tensions in the Middle East, following Israel’s airstrikes on Hamas leaders in Doha, Qatar last week.

Global oil prices also surged last week after Russia sent three drones into Polish airspace, an incident that Prime Minister Donald Tusk said put the country “closer to military conflict,” according to The Guardian.

Oil prices, however, eased after reports that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) plan to increase production once again, with analysts warning this could lead to oversupply next year.

On September 7, OPEC+ announced it would raise its oil output target by 137,000 barrels per day starting in October, a move that could put downward pressure on prices. 

While the increase this week is modest compared to earlier hikes, diesel has posted a net increase of P3.40 per liter over four weeks alone, with gasoline up by P3.10.

Year-to-date fuel price increases are also approaching record highs once again, with gasoline now P13.90 per liter more expensive than in 2024 and diesel higher by P15.35 per liter.

Kerosene, meanwhile, has a net increase of P3.55 per liter.  

Drivers of jeepneys and other public transport units are asking for government subsidies in case a temporary fare adjustment cannot be implemented to cover the increasing cost of fuel.

According to DOE’s monitoring, prevailing retail prices of petroleum products in Metro Manila from September 9 to 15 were:

• Gasoline (RON97/100) - P66.16
• Gasoline (RON95) - P57.00
• Gasoline (RON91) - P53.95
• Diesel - P52.40
• Diesel Plus - P66.98
• Kerosene - P74.20

Although prevailing retail rates provide a general guide, actual pump prices vary, with gasoline priced at up to P77 per liter and diesel at P70.78 in certain stations.