Diesel, kerosene up anew as Trump threatens tariffs on Europe

MANILA, Philippines — Escalating tensions in oil-producing nations are driving another round of fuel price hikes, with diesel and kerosene set to rise for the sixth week in a row.

Oil firms are set to increase on Tuesday, September 30, diesel and kerosene prices by P0.90 per liter, while cutting back on gasoline prices by P0.20 per liter. 

Shell Pilipinas, Seaoil and CleanFuel announced the mixed price adjustments on Monday, September 29.

This development comes after US President Donald Trump renewed his threat to impose another round of heavy tariffs on European nations if they continue buying oil from Russia.

In a speech before the United Nations General Assembly on September 23, Trump accused European countries of “funding the war” against themselves by relying on Russian energy, even as Moscow recently launched drones into Polish airspace.

Trump has also been trying to broker a peace deal between Russia and Ukraine. He previously spoke with Russian President Vladimir Putin about a potential ceasefire but later shifted focus to pursuing a peace deal, which is expected to be a long negotiation.

Recently, however, the European Union proposed banning imports of liquefied natural gas from Russia and sanctioning shadow fleet vessels, as Moscow pressed on with its attacks against Ukraine, which has struck back by targeting Russian refineries.

The Department of Energy (DOE), however, said the resumption of Iraq’s oil exports has slightly eased the upward pressure on fuel prices.

Last week, gasoline and kerosene prices rose by P1 per liter, while diesel increased by P0.80 per liter. 

According to DOE’s monitoring, common and prevailing retail prices of petroleum products in Metro Manila from September 23 to 29 were:

• Gasoline (RON97/100) - P67.97
• Gasoline (RON95) - P59.60
• Gasoline (RON91) - P56.50
• Diesel - P56.90
• Diesel Plus - P56.00
• Kerosene - P77.11

Some stations, however, charge above the prevailing retail rates, with gasoline priced as high as P78.10 per liter, diesel at P71.43, and kerosene at P89.39.

With this week’s mixed price adjustments, year-to-date increases have hit record highs at P17.05 per liter for diesel and P5.45 per liter for kerosene, while gasoline has posted P14.70 per liter.