MANILA (October 21) — Filipino motorists will see mixed fuel price adjustments this week, as gasoline ticks up slightly while diesel and kerosene go down — a shift reflecting ongoing volatility in the global oil market.
Starting 6 a.m. Tuesday, gasoline prices will rise by PHP0.10 per liter, while diesel and kerosene prices will be rolled back by PHP0.70 and PHP0.60 per liter, respectively.
The price changes were announced Monday by major fuel players Seaoil Philippines and PTT Philippines, with Catex Petroleum Philippines implementing the same adjustments a minute later at 6:01 a.m.
The modest hike marks the third straight week of gasoline price increases, while the kerosene rollback is the second in a row. Diesel prices, meanwhile, remained unchanged last week.
Industry officials said that while global oil prices have been on a softening trend in recent weeks, geopolitical tensions and supply-demand fluctuations continue to create upward pressure on pump prices. These swings highlight how local consumers remain exposed to external price movements, even amid easing crude costs.
The weekly price adjustments are based on movements in the Mean of Platts Singapore (MOPS) — the benchmark used for oil trading in the region — combined with foreign exchange rates.
For many motorists, the mixed price change brings some relief at the diesel pump, even as gasoline users brace for another slight uptick.
