Big-Time Oil Price Hike Expected on Tuesday (June 24, 2025)
FUEL PRICE UPDATE – Several petroleum companies are set to implement a big-time oil price hike starting next week.
Filipino motorists should prepare for a major increase in fuel prices next week, as global oil markets react to rising conflict between Israel and Iran. The situation is causing concerns about possible disruptions in oil supply, which could affect fuel availability worldwide.
According to the Department of Energy, gasoline prices may go up by around P2.50 to P3.20 per liter, while diesel is expected to rise even more, possibly by P4.30 to P4.80. In some cases, diesel could reach a P5 increase, depending on global trading results. Kerosene prices are also set to increase by about P4.25 to P4.40 per liter.
The main reason for this sharp adjustment is the growing tension in the Middle East, particularly near the Strait of Hormuz. The narrow waterway is an important route for transporting oil.
If the conflict worsens or if the strait becomes blocked, it could lead to a serious supply shortage across many countries.
”So the subsidies that we have always given, fuel subsidies, that we gave to, if you remember during the pandemic, lalong-lalong na ‘yung mga napapasada, ‘yung mga may hanap-buhay naman sila, binigyan nating fuel subsidies,” President Ferdinand ”Bongbong” Marcos Jr. said.
Fuel companies are seeing higher trading prices this week, as worries continue to grow that the conflict might involve more countries or affect major oil facilities. Industry experts warn that this kind of situation can quickly push up prices due to limited supply and high demand.
To ease the impact on affected sectors, especially public transportation, the government is preparing fuel subsidies. Officials have assured the public that they will monitor the situation closely and take steps to keep fuel supply stable.
The official fuel price adjustments will be announced on Monday (June 23, 2025), and will take effect on Tuesday (June 24, 2025).
This is a developing report, just visit this website regularly or refresh the page for further updates and information.
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