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January 5, 2026 | 12:29pm
Motorists queue at a gasoline station in Quezon City on July 7, 2024.
STAR / Miguel De Guzman
MANILA, Philippines — Fuel prices open 2026 with mixed adjustments, as diesel and kerosene prices slightly rise while gasoline becomes a bit cheaper starting Tuesday, January 6.
Motorists can expect a P0.20-per-liter hike in diesel prices and a P0.10 increase in kerosene this week, while gasoline prices will be cut by P0.10 per liter.
Shell Pilipinas, Seaoil, CleanFuel, Caltex and PetroGazz announced the mixed price adjustments in separate advisories on Monday, January 5.
Jetti Petroleum President Leo Bellas said last week that the small movements in diesel and gasoline prices were due to increased refinery output following the completion of scheduled maintenance.
This downward pressure, however, was partly offset by higher freight and premium costs amid market concerns over ongoing geopolitical tensions that could disrupt supply.
In the final fuel price adjustment of 2025, diesel and kerosene increased by P0.60 per liter, while gasoline remained unchanged.
The year closed with cumulative price hikes exceeding P20 per liter for gasoline and diesel, and nearly P6 per liter for kerosene.
This means Filipinos are entering 2026 with higher fuel prices than in 2024 and 2025, with the risk of steeper hikes in the coming weeks due to escalating tensions involving the United States and Venezuela that have raised concerns over the suspension of the country’s oil imports and exports.
What US wants with Venezuela
In a move targeting Venezuela’s oil exports, US President Donald Trump announced a blockade on all sanctioned tankers following Washington’s capture of Venezuelan President Nicolas Maduro and his wife on January 3.
Trump said they were abducted over federal criminal charges, including drug trafficking and allegations that Maduro’s regime is “illegitimate.” However, he was also quick to discuss the US’ plans for Venezuela’s oil industry.
Venezuela holds about 17% of global oil reserves, or an estimated 303 billion barrels, according to the London-based Energy Institute. This reportedly exceeds the reserves of Saudi Arabia, a leading member of the Organization of the Petroleum Exporting Countries (OPEC+).
A France 24 report, however, said “mismanagement, underinvestment and sanctions” have kept Venezuela’s crude output below capacity, with production averaging just 1.1 million barrels per day in 2025.
Trump said the US would assume control of Venezuela and that US companies would invest billions to restore its oil infrastructure, a proposal experts in energy and international affairs have questioned due to the clear doubts surrounding the country’s political stability.
Bellas warned on Sunday, January 4, that the tensions between the US and Venezuela “will keep prices volatile,” with markets still attempting to gauge the broader impact on global oil supply. — with reports from The STAR / Brix Lelis
