Manila: Oil firms are set to implement a PHP0.60 per liter increase for diesel and kerosene products on the last Tuesday of 2025, marking a reversal from the PHP1.30 per liter reduction that occurred last week. In separate advisories on Monday, Seaoil and Jetti Petroleum announced that the price hike will take effect at 6 a.m. on December 30.

According to Philippines News Agency, Seaoil will also increase its kerosene price by PHP0.60 per liter at the same time. However, there will be no changes to gasoline prices. The recent price uptick has been attributed to geopolitical developments, particularly the ongoing tensions between Russia and Ukraine, as well as the imposition of tougher United States sanctions on Venezuela.