Domestic Fuel Prices Increase for the Third Time This Month

June is not a happy month for drivers and car owners as fuel prices increase for the third time. This week, Pilipinas Shell, Caltex, Petron, and Cleanfuel, among other petrol products firms in the country, increased of their retail fuel prices last June 15 (Firms usually announce price adjustments every Monday to be implemented on the following day).

June 15 Price Increase

• Gasoline - Php 0.50 per liter
• Diesel - Php 0.40 per liter
• Kerosene - Php 0.30 per liter

The two previous price increases are:

June 8 Price Increase

• Gasoline - Php 0.20 per liter
• Diesel - Php 0.55 per liter
• Kerosene - Php 0.60 per liter

June 1 Price Increase

• Gasoline - Php 0.80 per liter
• Diesel - Php 0.40 per liter
• Kerosene - Php 0.25 per liter

Total price increases from these three consecutive increases amount to:

• Gasoline - Php 1.50 per liter
• Diesel - Php 1.35 per liter
• Kerosene - Php 1.15 per liter

The June 15 increase represents a total net increase of fuel price year-to-date adjustments (June 2020 versus June 2021) totaling to:

• Gasoline - An increase of Php 10.00 per liter compared to June 2020
• Diesel - An increase of Php 8.55 per liter
• Kerosene - An increase of Php 7.00 per liter

Reasons for the Domestic Fuel Price Increase

The DOE (Department of Energy) in its Oil Monitor (for June 8, 2021), that oil prices rose due to three factors: increase in demand (compared year-to-date, when the Covid-19 pandemic was at its height), the successful rollout of vaccine programs (and therefore, better economic prospects), and tightened regional supply to Southeast Asia. This increase is expected to hold until more regional and global economies open to accommodate it (the price increase). The tightened fuel supply will continue until July 2021.

Fuel Price Increase Estimates Across the Country

Following the June 15 fuel price increase, the average prevailing retail pump prices are expected to increase accordingly. Here's a quick estimate:

In NCR, fuel price increases may differ from one city to another or region. For example:

• For gasoline (91 Octane), the common average retail price may have increased to Php 55.92 in Caloocan City, Php 47.80 per liter in Quezon City, and Php 57.75 in Paranaque City.

• For diesel, the common average retail prices may range from Php 41.20 per liter in Caloocan and Quezon cities to 44.77 per liter when in Paranaque City.

• For kerosene, prices may range from Php 45.95 to 47.17 per liter in Caloocan City; Php 45.54 to 53.22 per liter in Quezon City; and Php 48.21 to 57.55 per liter in Paranaque City.

In the Visayas, this difference in prices (despite the same increase across the board) is also apparent:

• For gasoline (91 Octane), the common average retail price may have increased a range of Php 54.00 to Php 63.43 per liter in Cebu City; Php 52.60 to Php 57.85 in Dumaguete City; and Php 43.95 to Php 53.44 per liter in Tacloban City.

• For diesel, the common average retail prices may range from Php 42.05 to Php 50.18 per liter in Cebu City; Php 40.60 to Php 46.30 per liter in Dumaguete City; and Php 40.45 to 43.85 per liter in Tacloban City.

• For kerosene, The common average retail prices are estimated at: Php 47.42 in Cebu City and Php 46.63 in Dumaguete City (no data for Tacloban City).

In Mindanao, fuel prices are not as wildly varied:

• For gasoline (91 octane), the average retail prices may have increased to Php 59.53 in Zamboanga City; Php 51.92 per liter in Cagayan de Oro City; and Php 51.95 per liter in General Santos City.

• For diesel, the average retail prices may have increased to Php 51.54 per liter in Zamboanga City; Php 43.44 per liter in Cagayan de Oro City; and Php 43.23 per liter in General Santos City.

• For kerosene, the average retail prices may have increased to Php 49.56 per liter in Zamboanga City; Php 46.73 per liter in Cagayan de Oro City; and Php 50.91 per liter in General Santos City.

Please note that these common average prevailing prices are based on DOE's prevailing retail pump prices and you will notice that the retail prices may differ from one gas station to the next, depending on location, and other factors.