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Manila Bulletin devider Business devider The Economy devider Gasoline jumps ₱1.90 per liter, diesel ₱1.20/L this week

Gasoline jumps ₱1.90 per liter, diesel ₱1.20/L this week

Published Aug 4, 2025 10:37 am
It’s going to be a bumpy ride in the first week of August, with gasoline prices set to rise by nearly two pesos.
Effective Tuesday, Aug. 5, gasoline will increase by ₱1.90 per liter, while diesel will rise by ₱1.20 per liter.
Kerosene is also set to jump by ₱1 per liter.
Seaoil, Shell Pilipinas, and CleanFuel are among the oil companies that have announced these price movements.
The hefty fuel price hike was attributed to the ongoing supply disruptions following the sanctions of the United States (US) against Russia and Iran.
These looming concerns were driven by possible stricter Russian sanctions, as the US looks into potentially raising a 100 percent tariff rate on countries that would purchase Russian oil.
Recently, the US has threatened India with penalties for continuing to buy Russian oil. Economists warn that if the US also targets China's imports of Russian oil, it could further tighten global supply.
Additionally, diesel supply, along with the US gasoline stockpile, has declined due to a stronger demand over the summer.
Despite this, motorists can expect the supply to go up in the near future.
ING Economics reported that OPEC+, which is composed of oil-producing countries, has increased its oil supply by 547,000 barrels per day (b/d) for next month, which may indicate a growth in fuel output coming soon.

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