Th prices of fuel are expected to increase on Tuesday, June 10, 2025.
The Department of Energy (DOE) said over the weekend that the price of gasoline may go up by P0.40 to P0.70 per liter.
The price of diesel is also expected to increase by P0.80 to P1 per liter, and kerosene by P0.30 - P0.50 per liter.
The price hike is based on last week's four-day trading at Mean of Platts Singapore, as well as other geopolitical factors, the DOE said.
These include the continuing geopolitical tensions between Russia and Ukraine, supply concerns over the US and Iran nuclear deal, disruption of supply due to wildfires in Canada's oil-producing province of Alberta which had affected production, and the larger drawdown on US crude oil inventories, contrary to expectations.
“As a result of our monitoring on the four-day trading in Mean of Platts Singapore and relevant news in the international oil market, we will be expecting an increase in the domestic pump prices this week,” said Rodela Romero, assistant director of the DOE Oil Industry Management Bureau.
Last Tuesday, fuel firms increased the prices of gasoline by P0.40 and diesel by P0.30 per liter.
They also cut the price of kerosene by P0.10 per liter.