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Diesel, kerosene greet 2026 with first price hikes

Business | The Economy

Diesel, kerosene greet 2026 with first price hikes

By Gabriell Christel Galang

Motorists may need to ease off the accelerator in the new year, as diesel and kerosene prices are set to increase this week.

Starting Tuesday, Dec. 30, diesel and kerosene prices will rise by ₱0.60 per liter; however, gasoline prices will remain unchanged.

Seaoil, Shell Pilipinas, Petro Gazz, and Caltex will implement these price adjustments at 6 a.m., while Cleanfuel will follow shortly after at 4:01 p.m.

Despite earlier optimism over a potential ceasefire, analysts attributed the fuel price movements to renewed Russia-Ukraine tensions. Oilprice.com reported that Russia struck a heating plant in Kherson, while Ukraine targeted the Syzran oil refinery in Russia, knocking out its primary fuel processing unit and pushing back prospects for a peace deal.

Additionally, analysts from the Department of Energy’s Oil Industry Management Bureau (DOE-OIMB) and Jetti Petroleum cited the possibility that rising tensions could lead to more Russian sanctions.

The United States (US) has also imposed stricter penalties on Venezuela; however, the country has reached its crude output of 1.2 million barrels per day (bpd) for the year.

During Christmas week, gasoline prices fell by ₱0.80 per liter, while diesel posted a ₱1.30-per-liter rollback. Kerosene prices also declined by ₱1.60 per liter.

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