Report Oil Firms Start Staggered Price Hikes Amid DOE's Call for Relief

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Oil companies in the Philippines have begun implementing staggered price hikes starting 24th June, following the Department of Energy’s (DOE) plea to mitigate the impact of a looming P5-per-litre increase on consumers.

 

In response to global oil price surges driven by geopolitical tensions in the Middle East, the DOE met with oil firms to discuss phased price adjustments. The oil companies have responded as follows:

 

Shell and Seaoil

 

June 24:

• Diesel: Up by P2.60 per litre
• Gasoline: Up by P1.75 per litre
• Kerosene: Up by P2.40 per litre

 

June 26:

• Further increases to align with market changes

 

Caltex

 

June 24:

• Diesel: Up by P3.45 per litre
• Gasoline: Up by P2.25 per litre
• Kerosene: Up by P3.20 per litre

 

June 27:

• Diesel: Up by P1.50 per litre
• Gasoline: Up by P1 per litre
• Kerosene: Up by P1.40 per litre

 

In a briefing on 23rd June, the DOE urged oil companies to increase discounts for the transport sector and submit detailed reports on their pricing strategies. Energy Officer-in-Charge Sharon Garin emphasised the importance of protecting consumers from abrupt financial burdens.

 

Prior to the hikes, average fuel prices were:

 

• Gasoline: P55.90 per litre
• Diesel: P53.40 per litre
• Kerosene: P70.22 per litre

 

The DOE had earlier forecast potential increases of up to P3 per litre for gasoline, P4.80 for diesel, and P4.40 for kerosene.

 

The staggered approach aims to balance necessary price adjustments with the need to cushion consumers from sudden impacts, as the nation grapples with volatile global oil markets.

 

  Adapted by ASEAN Now from PhilStar 2025-06-23