Another Fuel Price Hike Expected Next Week, Oil Firms Say
OIL PRICE UPDATE – Several oil firms are set to implement another fuel price hike starting July 22, 2025 (Tuesday).
Drivers and commuters are once again bracing for higher fuel prices as oil companies are set to raise pump rates next week. It marks the second straight week of increases, further stretching the budget of many motorists.
Based on industry estimates and trading data, diesel is expected to see the biggest jump, with prices possibly going up by P0.70 to P0.90 per liter. Gasoline could increase by P0.30 to P0.50 per liter, while kerosene may rise by P0.50 to P0.70 per liter.
The Department of Energy also pointed out that recent global developments have pushed oil prices higher. These include stronger demand forecasts, unrest in the Middle East affecting oilfields, and the ongoing depreciation of the Philippine peso against the US dollar.
All these factors are combining to put pressure on local fuel costs.
Earlier this month, motorists already felt the pinch from a similar hike. On July 15, oil companies raised gasoline by P0.70, diesel by P1.40, and kerosene by P0.80 per liter. With the upcoming adjustment, the year-to-date total price increases now stand at P9.00 for gasoline, P11.35 for diesel, and P1.85 for kerosene.
Oil companies in the country usually announce price movements every Monday, with the changes taking effect early Tuesday morning. The weekly adjustments are based on international oil market trends.
Many Filipinos are expected to plan their refueling schedules carefully due to the looming fuel price hike.
This is a developing report, just visit this website regularly or refresh the page for further updates.
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