Price Of Gasoline Up But Diesel, Kerosene Down

Oil companies in the Philippines have introduced a mixed price adjustment starting Tuesday, February 4, 2025, reflecting the dynamic nature of global oil markets. Gasoline prices have increased by 70 centavos per liter, while diesel and kerosene prices have been reduced by P1.15 and 90 centavos per liter, respectively.

Implementation of New Pricing

The new pricing structure took effect at 6 a.m. for major players such as Jetti Petroleum, Petro Gazz, PTT Philippines, Seaoil, Shell Pilipinas, and Unioil. Caltex followed suit at 6:01 a.m., with Cleanfuel implementing the adjustments slightly later at 8:01 a.m.

This adjustment comes after last week’s price reductions—the first of the year—when gasoline prices were lowered by 80 centavos per liter, diesel by 20 centavos, and kerosene by 50 centavos.

Factors Behind the Price Changes

The mixed price adjustment reflects the influence of global factors on local fuel prices. Both the Department of Energy and an industry insider had anticipated this shift, citing the impact of U.S. tariffs on Canada and Mexico as a contributing factor. These tariffs have created fluctuations in the global oil market, influencing supply and demand dynamics.

Additionally, the adjustments highlight the ongoing volatility in oil prices, which are subject to geopolitical developments, currency exchange rates, and changes in production levels by major oil-producing nations.

Implications for Consumers

For Filipino motorists, the mixed price adjustment presents both challenges and opportunities. While the increase in gasoline prices may strain budgets for those relying on private vehicles, the reduction in diesel and kerosene prices offers some relief, particularly for businesses and households that depend on these fuels.

The adjustments also underscore the importance of monitoring global oil trends and their local implications. As fuel prices continue to fluctuate, consumers are encouraged to plan their fuel consumption strategically and explore energy-efficient alternatives where possible.

Looking Ahead

As the global oil market remains unpredictable, further price adjustments are likely in the coming weeks. The Department of Energy and industry stakeholders will continue to monitor developments closely to provide guidance and support to consumers.