Rising fuel adds pressure on transport, food prices
MANILA (October 7) — Motorists should brace for higher pump prices starting Tuesday, October 7, as oil companies announce increases of up to ₱0.80 per liter.
In separate advisories, Seaoil and Petron said gasoline prices will go up by ₱0.20 per liter, diesel by ₱0.80, and kerosene by ₱0.20 effective 6 a.m. Tuesday. PTT Philippines will implement the same adjustment, while Caltex will follow at 6:01 a.m.
Last week, Jetti Petroleum president Leo Bellas had forecast the uptick, citing strong global demand and geopolitical tensions that continue to push up international oil prices.
According to the Department of Energy (DOE), as of September 30, year-to-date adjustments stand at a net increase of ₱10.25 per liter for gasoline, ₱6.75 for diesel, and ₱2.50 for kerosene. The agency said it continues to monitor global market movements and local supply to help cushion impacts on consumers.
Economists warned that sustained increases could ripple across transport and food prices, further straining household budgets.
