sigebet Mixed fuel price adjustments set on Tuesday, February 4

FILE PHOTO: In separate advisories, firms said the price of diesel will decrease by P1.15 per liter and kerosene by 90 centavos per liter on February 4, 2025. However, gasoline will rise by 70 centavos per liter. —NIÑO JESUS ORBETA/REUTERS

MANILA, Philippines — Oil companies are set to implement mixed fuel price adjustments on Tuesday, Feb. 4, a week after reducing local pump prices.

In separate advisories, firms said the price of diesel will decrease by P1.15 per liter and kerosene by 90 centavos per liter.

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However, gasoline will rise by 70 centavos per liter.

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Petro Gazz and Seaoil will adjust their fuel prices by 6 a.m., followed by Cleanfuel at 8:01 a.m.

READ: Mixed fuel price changes seen this week

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Industry sources hinted at mixed adjustment in pump prices last week because of some global events, such as US President Donald Trump’s pronouncements over tariffs.

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Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau Director, said this is attributed to the uncertainty over potential America’s tariffs on Canada and Mexico.

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Romero also said Trump’s call for lower oil prices and higher output in the United States and other major suppliers such as the Organization of the Petroleum Exporting Countries (Opec) could trigger mixed fuel price adjustments.

The meeting of the Opec+ Joint Ministerial Monitoring Committee scheduled for Feb. 3 to assess the market situation, could be influence this week’s pump prices movements, she added.

During the signing of the MOU with the Federation of Korean Industries (FKI), PCCI president Enunina Mangio said that the East Asian country remains a key trading partner of the Philippines, with significant investments in infrastructure, electronics, and energy.

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Jetti Petroleum president Leo Bellas said besides the looming tariffs proposed by Trump, higher diesel export volumes from India and China weighed on prices.

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