Fuel Companies to Implement Oil Price Hike This Week
FUEL PRICE UPDATE – Another oil price hike is set to take effect before the month of April ends.
Fuel prices are going up once again, giving Filipino motorists more reason to tighten their budgets as April comes to an end.
Starting Tuesday, April 29, 2025, several oil companies in the country will implement new price adjustments at the pump.
Gasoline will see an increase of P1.35 per liter, diesel will go up by P0.80 per liter, and kerosene will rise by P0.70 per liter. Pilipinas Shell, Seaoil, and Petro Gazz will apply the changes starting at 6 a.m., while Cleanfuel will adjust its prices a bit later, at 4:01 p.m. Petro Gazz and Cleanfuel do not offer kerosene in their stations.
The looming oil price hike marks the second consecutive rise in fuel prices. Just last week, prices already climbed, with gasoline increasing by P1.35, diesel by P1.30, and kerosene by P1.10 per liter.
So far this year, gasoline prices have gone up by a total of P2.30 per liter, diesel by P2.85, and kerosene by P1.80.
According to the Department of Energy’s Oil Industry Management Bureau, global developments are a big factor behind the latest increase.
New sanctions placed by the United States on Iran’s oil shipping network have affected supply chains. A sharper-than-expected drop in US crude inventories has tightened the market even further.
OPEC+ is reportedly considering boosting oil production by June, and improvements in US-China trade relations, as well as easing tensions between Ukraine and Russia, could help ease fuel prices in the future.
As of this writing, Filipino drivers will need to prepare for higher costs at the gas station as these new prices take effect.
This is a developing report, just visit this website regularly or refresh the page for further updates.