Oil Price Hike Expected on 3rd Week of July, According to Fuel Companies
OIL PRICE UPDATE – Some fuel companies in the country are expecting an oil price hike in the third week of July.
Oil prices are expected to go up again on Tuesday (July 15, 2025), following two straight weeks of price cuts. The increase is driven by rising global demand, especially in countries experiencing summer, and a drop in projected oil output from the United States.
Based on early trading data and market indicators, fuel costs in the Philippines are likely to see the following adjustments:
- Gasoline: +P0.50 per liter
- Diesel: +P1.00 per liter
- Kerosene: +P1.00 per liter
Earlier this week, Chevron Philippines, which operates Caltex, has already started adjusting its prices. Just this week, they raised pump prices for gasoline, diesel, and kerosene following minor changes earlier the week. The price hikes ranged from P0.25 to P0.50 centavos per liter.
This came after a small rollback on July 8, when prices of gasoline and kerosene went down by P0.25, while diesel saw a minor increase of P0.15 per liter.
Last week, oil companies implemented significant rollbacks: gasoline dropped by P1.40, diesel by P1.80, and kerosene by P2.20. But with the latest market developments, those savings may be short-lived.
According to energy officials, the current increase is influenced by supply and demand imbalances abroad. With fuel needs growing while production outlook remains weak, local pump prices are expected to reflect those global shifts.
This is a developing report, just visit this website regularly or refresh the page for further updates.
READ ALSO: Oil Price Rollback to Take Effect on Tuesday (July 8, 2025)