Benise Balaoing

Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Diesel prices is forecast to increase by P6 to P6.85 per liter, gasoline prices at P1.20 to P1.40 per liter, and kerosene prices by P3.50 to P3.70 per liter. Mark Demayo, ABS-CBN News

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FUEL PRICE HIKE

Alvin Elchico

Job Manahan

ABS-CBN News

MANILA (UPDATE) -- Oil prices are jumping up in the third week of January.Petroleum companies announced the following price movements effective Tuesday, January 20.CALTEX, SHELL, SEAOIL (effective 6 a.m.)  Gasoline - P1.00/L increase Diesel - P2.00/L increase Kerosene - P1.50/L increaseCLEANFUEL (effective 4:01 p.m.)  Gasoline - P1.00/L increase Diesel - P2.00/L increasePETROGAZZ, PTT, UNIOIL, JETTI (effective 6 a.m.): Gasoline - P1.00/L increase Diesel - P2.00/L increaseThe Department of Energy (DOE) said it was coordinating with the private sector amid the jump in fuel prices due to the tensions in Iran, just as it noted that the price adjustments could also be attributed to other factors. In a public briefing, DOE Oil Industry Management Bureau Assistant Director Rodela Romero said any disruption in the supply of petroleum products could lead to a jump in oil prices. But she also emphasized that the oil supply was sufficient. “Ang Iran, pang-4 siya sa malalaking producer na member ng OPEC countries. So although maliit lang ang diperensya ng world supply sa world demand, kahit anong klase ng disruption ang manganganib ang ating supply ng petroleum products, talagang tataas,” said Romero.“Mas madami talagang supply ang merkado. Mukhang pababa ang presyo dahil dun. Kaya lang, may kadahilanan kung bakit na nagpapabago ng direksyon. Enough ang supply,” she said.The energy official said the uptick in petroleum prices could also be attributed to the depreciation of the peso.What the DOE is doing, she said, includes constant coordination with the private sector for possible discounts.“Ang ginagawa ng DOE, nakikipag-ugnayan tayo sa private sector, kasi ang private sectors mayroon silang corporate social responsibility, nag-offer sila ng discounts, freebies, para sa iba’t ibang consumers,” the DOE official said.“So si DOE, sinisigurado natin na ang mabibiling produktong petrolyo ay compliant on the standards. Kung talagang magpapatuloy ang pagtaas, may guidelines kapag lumagpas sa 80 dollars per barrel and Dubai crude, ang pinaka-benchmark natin,” she added.Romero said the Department of Agriculture is ready to provide financial assistance to those affected in the agricultural sector.“Ang transport sector naman magbibigay sila ng ayuda sa ating transport group na nangangailangan ng pagtulong,” she said.“Ang Department of Energy, sinisigurado natin na patas ang pagbu-business ng nasabing oil companies. Chine-check natin ang compliance nila sa standards on quantity, quality… na dapat lahat ng binebenta nilang produktong petrolyo ay hindi kakatok ang makina mo kung sakali,” she added.Romero said based on forecasts released by international companies, fuel prices are seen on a “downward trend” in the first quarter of this year.“Sabihin lang natin fundamentals of supply and demand, madaming supply and yung demand kung hindi tataas, posible na bumaba. Pero kung may ganitong kaguluhan na nangyayari… na makakapag-disrupt… magiging [mataas] yun dahil sa may mga corresponding premium sa pagbili ng nasabing produkto,” she said.

Major oil price hike set in third week of January

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Major oil price hike set in third week of January

Alvin Elchico,

Job Manahan,

ABS-CBN News

Published Jan 19, 2026 09:44 AM PHT

|

Updated Jan 19, 2026 05:03 PM PHT

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kerosene

diesel

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oil prices

oil price hike

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