Gas prices jump P1.35 per liter

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April 29, 2025 | 12:00am

MANILA, Philippines — Motorists should brace for another spike at the pump this week, with gasoline prices going up by over P1 per liter.

Starting today, Shell, Caltex and Seaoil are set to implement a per-liter price hike of P1.35 for gasoline, P0.80 for diesel and P0.70 for kerosene.

Petro Gazz, Cleanfuel, PTT Philippines and Jetti would apply the same adjustments, except for kerosene, which they do not offer.

The upward adjustments, the second in as many weeks, were attributed to the continued tightening of crude supply in the global market.

This followed the imposition of a fresh round of US sanctions on Iran’s oil shipping network and the “sharper-than-expected” decline in US crude inventories, according to the Department of Energy.

Jetti president Leo Bellas, meanwhile, said the easing worries over the economic uncertainty in the US and the prospects of reducing tariffs on imported Chinese goods also pushed oil prices higher.

With today’s adjustments, the year-to-date net increase stands at P3.65 per liter for both gasoline and diesel, while kerosene prices have declined by P1.10 per liter.

Last week, oil firms hiked gasoline, diesel and kerosene prices by P1.35, P1.30 and P1.10 per liter, respectively.