Philippines: Fuel prices up for gasoline, down for diesel and kerosene from August 19

Manila: Motorists will face mixed pump price adjustments this week, with petrol (gasoline) set to rise while diesel and kerosene become cheaper.

Oil companies announced that starting Tuesday, August 19, gasoline prices will increase by ₱0.60 per litre, while diesel and kerosene will drop by ₱0.80 and ₱0.90 per litre, respectively.

Shell Pilipinas and Seaoil implemented the changes from 6 am, followed by Cleanfuel at 8:01 am.

According to the Department of Energy (DOE), the latest adjustments are influenced by several international developments.

The DOE cited OPEC+’s “aggressive” supply growth forecast, which could raise global oil inventories and exert downward pressure on prices.

Other contributing factors include the International Energy Agency’s (IEA) weaker global demand outlook and signs of easing trade tensions between the United States and China, said Rodela Romero, assistant director of the DOE’s Oil Industry Management Bureau.

Jetti Petroleum President Leo Bellas also pointed to geopolitical uncertainties.

He noted that the possible easing of sanctions after a meeting between US President Donald Trump and Russian President Vladimir Putin could impact oil markets.

“The uncertainty of the US-Russia peace talks that could affect Russian oil exports continues to add a bullish risk premium, given that Russia and buyers of Russian oil could face more economic pressure should a deal not happen,” Bellas said.