A hefty oil price hike will greet motorists and consumers during the first few days of 2025.
Oil firms will increase gasoline and kerosene prices by P1 per liter, and make a P1.40 per liter increment on diesel on Tuesday.
As of writing, Caltex, Cleanfuel, Petro Gazz, Seaoil, and Shell confirmed the oil price hike.
Other industry players are expected to follow suit.
According to OilPrice.com, global oil industry players are expecting higher fuel prices this year amid the anticipated policy shifts in the United States under the Trump administration.
Colder weather in the US and Europe and the economic stimulus of China are also seen supporting higher oil prices in the global market.
On New Year’s Eve, local oil companies rolled back prices of 30 centavos per liter for gasoline and diesel, and 90 centavos per liter for kerosene.
The price adjustments closed 2024 with a net increase of P12.75 per liter for gasoline and P11 per liter for diesel on a year-to-date basis. On the other hand, kerosene prices had a net decrease of P2.70 per liter.
In Metro Manila, current gasoline prices range from P50.85 to P74.62 per liter, diesel prices range from P48.77 to P71.30 per liter, and kerosene prices from P69.94 to P81.20 per liter.*PNA
