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Brix Lelis - The Philippine Star
May 27, 2025 | 12:00am
MANILA, Philippines — Gasoline prices are set to increase today, but a slight drop in diesel and kerosene prices will offer some relief to motorists.
In separate advisories, Shell, Caltex and Seaoil announced a hike of P0.10 per liter for gasoline and price cuts of P0.20 and P0.40 per liter for diesel and kerosene, respectively.
Petro Gazz, Cleanfuel, PTT Philippines and Jetti would implement the same adjustments, except for kerosene, which they do not offer.
The increase in gasoline prices reflects OPEC’s continued positive outlook on global oil demand despite headwinds, according to the Department of Energy (DOE).
The rollback, on the other hand, was attributed to reports of progress in nuclear talks between the US and China and the additional crude oil storage capacity at Iran’s export terminal.
Similarly, the easing of global trade tensions between the US and China also exerted downward pressure on oil prices, the DOE said.
Jetti president Leo Bellas, meanwhile, said price benchmarks contracted following reports that OPEC was considering increasing production for July, along with concerns over an unexpected rise in US crude inventories.
The latest price adjustments bring the year-to-date net increases for gasoline and diesel to P4.10 and P3.60 per liter, respectively. Kerosene prices have declined by P2.45 per liter since January.
Last week, oil firms implemented price hikes of P1.70 per liter for diesel and P1.20 per liter for gasoline and kerosene.
