Fuel prices have seen mixed movements this week, with gasoline and diesel prices increasing, while kerosene prices have decreased. These adjustments, effective June 3, 2025, reflect the impact of international market dynamics and geopolitical factors on local pump prices.

Several oil companies, including Seaoil, CleanFuel, PetroGazz, Chevron Philippines Inc. (Caltex), Petron Corp., and Shell Pilipinas Corp, have announced an increase of P0.40 per liter for gasoline and P0.30 per liter for diesel. Meanwhile, kerosene prices will decrease by P0.10 per liter. These adjustments will take effect at 6 a.m. for most firms, with Cleanfuel implementing the changes at 4:01 p.m. the same day. PTT Philippines Corp. will implement the same changes, excluding kerosene which they do not carry.

This marks the third consecutive week of increases for gasoline prices. Last week, gasoline prices rose by only P0.10 per liter, while diesel and kerosene dropped by P0.20 and P0.40 per liter, respectively. However, this followed a nearly P2 per liter hike in the third week of May, which came after two consecutive weeks of rollbacks.

Rodela Romero, assistant director of the Department of Energy-Oil Industry Management Bureau, stated that these potential price hikes could be attributed to several external factors, including the looming US sanctions on Russia. Further factors include, worsening geopolitical tensions in oil-producing nations, and easing tariff woes between the United States and European Union. Meanwhile, the possible downward price movement may be influenced by OPEC+'s (Organization of the Petroleum Exporting Countries and allies led by Russia) decision to increase its production.

The mixed movements in fuel prices reflect the complex interplay of global events. Potential new US sanctions on Russia, designed to limit Russia's energy revenues, are creating upward pressure on prices. Tensions in oil-producing regions can disrupt supply chains, further contributing to price increases. The decision by OPEC+ to increase production aims to stabilize the market by ensuring an adequate supply of crude oil, which could potentially lead to downward price adjustments.

In India, fuel prices are revised daily at 06:00 A.M. From June 2017, fuel prices in India are revised daily, and this is called the dynamic fuel price method. Currently, petrol is retailing at Rs - a litre in Delhi, and diesel is priced at Rs 87.62. In Mumbai, Chennai and Kolkata petrol costs Rs -, Rs - and Rs - respectively. On the other hand, diesel is retailing at Rs 92.15, Rs 92.43 and Rs 90.76 in Mumbai, Chennai and Kolkata respectively. These prices are subject to change based on fluctuations in international oil markets and currency exchange rates. India imports about 80% of its oil needs and so domestic pump rates are dependent on international prices, as denominated by Indian basket of crude oil.

Consumers are advised to stay informed about these price changes and plan their fuel purchases accordingly. Monitoring fuel prices in different cities can help drivers make informed decisions about where and when to fill up their tanks.