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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

Alvin Elchico

ABS-CBN News

<p>MANILA -- Oil prices are going up by more than a peso in August.</p><p>Petroleum companies announced the following price jumps effective Tuesday, August 5.</p><p>SHELL PILIPINAS, SEAOIL (effective 6 a.m.) </p><ul><li>Gasoline - P1.90/L increase </li><li>Kerosene - P1.00/L increase </li><li>Diesel - P1.20/L increase</li></ul><div><br/></div><p>CLEANFUEL (effective 4:01 p.m.) </p><ul id="isPasted"><li>Gasoline - P1.90/L increase </li><li>Diesel - P1.20/L increase</li></ul><div><br/></div><p>CALTEX (effective 6:01 a.m.) </p><ul id="isPasted"><li>Gasoline - P1.90/L increase </li><li>Kerosene - P1.00/L increase </li><li>Diesel - P1.20/L increase</li></ul><div><br/></div><p>PETROGAZZ, JETTI PETROLEUM (effective 6 a.m.)</p><ul id="isPasted"><li>Gasoline - P1.90/L increase </li><li>Diesel - P1.20/L increase</li></ul><div><br/></div><p>A price freeze remains in effect for kerosene and LPG products in areas placed under a state of calamity due to monsoon rains driven by tropical cyclones in July.</p><p>In the last 4 weeks, diesel prices have risen by P4.30/L due to the 4 consecutive increases.</p><p>Overall, the net increase for petroleum products further bloated to more than P11/liter with gasoline prices rising by P11.20/liter since start of the year, and diesel prices by P14.24/liter.</p><p>Department of Energy Assistant Director Rodela Romero said the main reason for the increase was the sanction on Russian crude and Iran by the United States as well as, reduced supply due to Brazil&#x27;s halt of oil exports to the US due to higher tariff.</p><p>But Romero noted that some analysts said that prices could ease by September when the Saudi-led OPEC+ cartel boosts oil production by more than 500,000 barrels per day.</p><p>That can lead to lower prices especially if demand does not pick up or no geopolitical tension worsens. </p><div> </div><div><strong>FARE HIKE DEMAND</strong></div><div> </div><p>As diesel prices soar in the Philippines, transport groups called on the Land Transportation Franchising and Regulatory Board (LTFRB) to approve a P1 provisional hike in the minimum fare to help drivers cope with rising diesel prices.</p><p>Pasang Masda President Roberto Martin said he would meet with LTFRB Chairman Teofilo Guadiz on Tuesday to formally ask for the P1 provisional increase in fare.</p><p>That means the current P13 will go up to P14 for ordinary jeepney and the current P15 will become P17 for modern jeepneys.</p><p>Martin said the P1 adjustment could be recalled once diesel prices return to normal as the LTFRB hears its original petition for a P2 increase in the minimum fare.</p>

Huge oil price hike set in first week of August

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Huge oil price hike set in first week of August

Alvin Elchico,

ABS-CBN News

Published August 04, 2025 09:52 AM PHT

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Updated August 04, 2025 05:00 PM PHT

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