MANILA (UPDATE) — Oil prices are going up for a third straight this week this January, oil companies announced Monday.

Below are the new price adjustments effective January 21, 2025. 

SHELL PILIPINAS, CALTEX, SEAOIL (effective 6 a.m.)

Gasoline - P1.65/liter increase

Kerosene - P2.50/liter increase

Diesel - P2.70/liter increase

CLEANFUEL (effective 4:01 p.m.)

Gasoline - P1.65/liter increase

Diesel - P2.70/liter increase

PETROGAZZ, UNIOIL (effective 6 a.m.)

Gasoline - P1.65/liter increase

Diesel - P2.70/liter increase

Since oil companies have already increased 3 times in as many weeks, the total net increase has also ballooned.

Net Increase (Jan. 1-21, 2025)

Diesel      P5.00/L increase

Gasoline  P3.45/L increase

Kerosene P4.30/L increase

Energy Assistant Director Rodela Romero says the main reason for the increase is still the new US sanctions against Russia.

According to Romero, it appears that the total affected crude shipment amounts to 1.6 million barrels per day which is likely to create a tightness in world supply.

The Organization of Petroleum Exporting Countries had earlier said it will only resume additional supply production by April 2025. 

PROTEST VS. OIL PRICE HIKE 

A few members of Bayan Muna trooped to a gas station along Commonwealth Avenue to protest the series of price increases. 

In a statement, the group says the increases are an attack on consumers. 

"Wala talagang patawad ang mga kompanya ng langis. Unang buwan pa lang ng taon, puro taas singil na agad. These oil companies are showing their true colors - profit over people," former Bayan Muna Representative Carlos Zarate said. 

The veteran progressive lawmaker noted that the oil price hike comes alongside increases in electricity rates, water rates, LRT fare and SSS contributions. 

"This is a perfect storm of price increases hitting consumers who haven't even recovered from holiday expenses," he emphasized.

Assistant Director Rodela Romero of the DOE Oil Industry Management Bureau earlier said tougher US and UK sanctions on Russian oil companies Surgutneftegas and Gazprom Neft are jacking up shipping costs, which are affecting mostly Asian countries including India and China. 

“Kumukuha tayo ng finished product sa China,” Romero said.