Geline Salac

Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Diesel prices is forecast to increase by P6 to P6.85 per liter, gasoline prices at P1.20 to P1.40 per liter, and kerosene prices by P3.50 to P3.70 per liter. Mark Demayo, ABS-CBN News

Article (news)

FUEL PRICE HIKE

David Dizon

Alvin Elchico

ABS-CBN News

<p>MANILA (UPDATE) — Global oil prices dropped for a second straight day following the ceasefire between Israel and Iran.</p><p>Department of Energy Assistant Director Rodela Romero of the Oil Industry Management Bureau noted the drop in prices in the Mean of Platts Singapore. Based on the first two trading days, diesel has gone down by P1.27 per liter, kerosene by P1.35 and gasoline by P0.33.</p><p>But Romero also said the price drop in the global market does not mean an automatic rollback next week since there are three trading days left in the week.</p><p>“Base sa 2 araw na trading, rollback. Sa gasoline medyo maliit pa. Kung basehan natin ang MOPS, rollback ang lahat ng produkto. 3 araw pa ‘yung dadaan,” she said in a DZMM interview.</p><p>Main international and US oil contracts briefly bounced off their lows as Israel and Iran accused each other of breaking the ceasefire, but then resumed their fall after US President Donald Trump berated the two countries in an expletive-laced outburst.</p><p>Prices were also brought down by Trump saying that China could continue to buy oil from Iran, in what appeared to be relief from sanctions Washington had previously imposed.</p><div><br/></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/G1PvhDerNwI?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/mfUruwztZTI?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>Local oil companies are implementing fuel price increases in 2 tranches this week. After implementing a hefty price increase on Tuesday, oil firms are set to hike prices again by P2.60/liter for diesel, P1.75/liter for gasoline and P2.40/liter for kerosene.</p><p>Jetti Petroleum said it expects diesel prices to fall next week but is unsure of the amount. Gasoline prices are also expected to go down slightly, according to the Jetti Petroleum President Leo Bellas.</p><p>The DOE said it is better to wait for Thursday or Friday to establish a trend and the price adjustments for next week will be clearer by then.</p><div><strong>INDEPENDENT vs MAJOR BRANDS</strong></div><p>As more motorists patronize independent and new players instead of major oil companies, the Department of Energy said the basic fuel quality remains the same for all players.</p><p>That means passing the quality and quantity test of the DOE plus the biofuel additives mandated by law, meaning 10 percent ethanol for gasoline and 3 percent biodiesel on diesel. According to the DOE, independent and new players are able to bring down costs to compete and they have no big overhead unlike the Big 3.</p><p>Romero said smaller players have minimum standards while major players mostly go beyond the minimum, that&#x27;s why many of them have clean, presentable comfort rooms, tidy and uniformed gas attendants and wider stations with parking for customers. Some even have stores near the pumping stations to cater to customers.</p><p>But when asked if it&#x27;s safe to gas up in stations with cheaper fuel, Romero said it depends on the station that&#x27;s why the DOE conducts tests every now and then to check on quality and quantity of products.</p><p>She also rejected advice that motorists rock their vehicles while filling up their gas tanks.</p><p>“Napaka-unsafe (‘yung inaalog ‘yung sasakyan). Mamaya mag-leak din ‘yung tangke kung puno na,” she said.</p>

<p>Oil prices dropped for a second straight day of trading in the Mean of Platts Singapore following a <a href="https://www.abs-cbn.com/news/world/2025/6/24/trump-says-iran-israel-truce-holds-after-berating-both-countries-2138">ceasefire between Israel and Iran</a>.</p>

Oil prices dropped for a second straight day of trading in the Mean of Platts Singapore following a ceasefire between Israel and Iran .

Oil prices dip as Iran-Israel ceasefire holds

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Oil prices dip as Iran-Israel ceasefire holds

David Dizon,

Alvin Elchico,

ABS-CBN News

Published June 25, 2025 10:58 AM PHT

|

Updated June 25, 2025 03:56 PM PHT

Read More:

oil prices

gasoline

diesel

kerosene

rodela romero

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