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Manila Bulletin devider Business devider Oil prices to rise on Tuesday

Oil prices to rise on Tuesday

Published Mar 24, 2025 02:46 am

OIL PRICE HIKE.jpg

Motorists will need to brace themselves as the streak of oil price rollbacks ends.

Effective Tuesday, March 25, gasoline prices will increase by ₱1.10 per liter, while diesel and kerosene will go up by ₱0.40 per liter.

Shell Pilipinas, Cleanfuel, Seaoil, and Petro Gazz are among the oil companies that have announced these price adjustments.

Last week, the prevailing prices for gasoline in Metro Manila cost somewhere around ₱55.40 to ₱71.95 per liter, while diesel was around ₱53.70 to ₱58.40.

Kerosene was at ₱70.67 per liter.

Analysts projected earlier that these price movements were driven by tensions in the Middle East, the United States’ (US) economic activities, and China’s fiscal stimulus boost.

As the US launched military strikes, this may have led to concerns about supply transportation; however, price spikes have not been as heavy as expected, as analysts noted that the US central bank decided to hold interest rates.

Additionally, renewed prospects for a Russia-Ukraine ceasefire could have slowed the increase this week.

With the potential end of the Russia-Ukraine tensions, Russian oil may see a resurgence in the global market.

Last week, the Organization of the Petroleum Exporting Countries (OPEC+), including Russia, reported a new schedule to reduce oil production in order to compensate for the exceeded production levels, with the plan to offset the increase in monthly production.

Related Tags

Diesel Kerosene prices fuel prices Gasoline prices
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