Mixed Oil Price Adjustments Expected on Tuesday (February 4, 2025), DOE Says
OIL PRICE UPDATE – Fuel companies in the Philippines are set to implement mixed oil price adjustments starting this week.
Various gasoline stations in the country are expected to impose mixed changes across gasoline, diesel, and kerosene starting Tuesday (February 4, 2025).
Gasoline prices will increase by P0.70 per liter, while diesel prices will decrease by P1.15 per liter, and kerosene prices will drop by P0.90 per liter. These price changes will take effect at 6 a.m. for most oil firms like Shell, Seaoil, Caltex, PetroGazz, and Cleanfuel, which will implement their adjustments slightly later at 8:01 a.m.
The looming oil price adustments marks the second consecutive week of price reductions for diesel and kerosene. These drops in price come after a slight rollback the previous week, when diesel and kerosene prices were reduced by around P0.20 and P0.50 per liter, respectively.
Meanwhile, gasoline prices had increased last week, but this week, they will continue to climb with a P0.70 rise per liter.
The price changes are the result of several global factors, including rising US oil inventories and trade issues that influence global fuel markets. According to the Department of Energy (DOE), these factors, along with the Chinese New Year holiday, contributed to the adjustments.
Looking at overall price movements this year, retail fuel prices have seen an increase since January 2025. As of the latest data, gasoline prices have risen by about P2.65 per liter, diesel by P4.80, and kerosene by P3.80.
The year-to-date price hikes for gasoline, diesel, and kerosene are now at P3.35, P3.65, and P2.90 per liter, respectively.
In Metro Manila, fuel prices range between P52.55 to P77.27 per liter for gasoline, P52 to P75.85 for diesel, and P73.74 to P85 for kerosene.
READ ALSO: DOE Releases Oil Price Update for Tuesday (February 4, 2025)