Fuel prices will increase for the second time since 2025 started based on the results of industry trading this week, according to the Department of Energy (DOE).
The following hikes will be implemented on Tuesday, January 14:
Gasoline – P0.70 to P0.90/liter
Diesel – P0.80 to P1.00/liter
Kerosene – P0.70 to P0.90/liter
The upward price adjustment was due to lower oil production data from OPEC and Russia, while there are also fears on possible tightened supply as an economic stimulus package of China is eyed to increase the Asian demand.
Assistant Director Rodela Romero, Director III of the Department of Energy Oil Industry Management Bureau, earlier stated that the cold blast in the US and Europe will also boost fuel demand in these locations.
Fuel companies will announce the official price adjustments on Monday, January 13.
