The Department Energy of Energy (DOE) announced over the weekend that the prices of gasoline, diesel and kerosene will go up this week, starting Tuesday, April 1.
The DOE Oil Industry Management Bureau said that based on world market trading near the weekend, the projected per-liter price adjustments are for gasoline - P0.85 to P1.35; diesel - P0.75 to P1.25; and kerosene P0.95 to P1.10.
The agency said that the more than P1 price hike of fuel is due to the US sanctions on Iran which could remove one million barrels per day from global supply.
It added that the hike was also caused by the Russia-Ukraine attacks on energy installations, and the US threat of tariffs on nations buying Venezuelan crude oil.
On March 25, 2025, fuel firms increased the prices of gasoline by P1.10 and P0.40 for diesel and kerosene respectively.