Latest news with #JettiPetroleum
GMA Network
28-07-2025
- Business
- GMA Network
Gasoline pump prices down; diesel and kerosene up for 3rd straight week Tuesday
Fuel retailers on Monday announced mixed movements in pump prices this week, as motorists will be greeted with lower prices of gasoline starting Tuesday, while diesel and kerosene prices will be hiked for the third straight week. Below are the scheduled adjustments per liter for this week, including areas where prices will not be adjusted due to the impact of the recent tropical cyclones and the Southwest Monsoon or Habagat. Jetti Petroleum Gasoline down P0.10, diesel up P0.60 Price freeze in Bataan, Bulacan, Cavite, National Capital Region (NCR), Negros Occidental, Oriental Mindoro, Pangasinan, Pampanga, and Rizal. Shell Pilipinas Corp. Gasoline down P0.10, diesel up P0.60, kerosene up P0.40 Price freeze in La Union, Pangasinan (Alaminos, Bayambang, Binmaley, Calasiao, Dagupan, Malasiqui, Mangaldan, San Fabian), and Ilocos Sur. Petro Gazz Gasoline down P0.10, diesel up P0.60. Price freeze in La Union, Pangasinan (Alaminos, Bayambang, Binmaley, Calasiao, Dagupan, Malasiqui, Mangaldan, San Fabian) and Ilocos Sur. The adjustments will take effect at 6 a.m. on Tuesday, July 29, for all the firms. Other retailers have yet to make similar announcements for the week. The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected mixed movements in pump prices this week, citing the unexpected decline in US Crude inventories, and the geopolitical events and uncertainty surrounding US trade policies. Firms last week hiked prices per liter of gasoline by P0.40, diesel by P1.10, and kerosene by P0.70. Year-to-date adjustments stood at a net increase of P9.00 per liter for gasoline, P11.35 per liter for diesel, and P1.85 per liter for kerosene as of July 15, 2025. — RSJ, GMA Integrated News
GMA Network
04-07-2025
- Automotive
- GMA Network
Another round of fuel price rollback expected next week
Motorists could look forward to another reprieve in the coming week as fuel retailers are expected to roll back pump prices anew. In its price indication for next week, based on Mean of Platts Singapore (MOPS) trading in the past four days, Jetti Petroleum said the following are the estimated downward movements in petroleum products: Diesel - down by P0.20 to P0.40 per liter Gasoline - down by P0.80 to P1.00 per liter 'Prices fell this week as the risk premium built into crude oil and refined fuel products gradually unwinds due to easing of tensions in the Middle East,' Jetti said. 'The prospect of additional supply from another OPEC+ output increase, and worries about the impact on the economy and fuel demand driven by US tariff uncertainty have also weighed on prices,' the fuel company said. Oil companies announce official price adjustments every Monday, which will be implemented on the following day. This week fuel retailers slashed the per liter prices of gasoline by P1.40, diesel by P1.80, and kerosene by P2.20. Firms last week hiked prices per liter of gasoline by a cumulative P3.50, diesel by P5.20, and kerosene by P4.80. 'Price gains from concerns that the lingering dispute over Iran's nuclear program could again evolve into armed conflict were pared by demand worries in the US, following the unexpected build in crude oil and gasoline inventories,' Jetti said. —VAL, GMA Integrated News
GMA Network
25-06-2025
- Business
- GMA Network
Fuel price rollback 'possible' next week
Motorists could expect a sigh of relief next week after a series of a two-tranche big-time hike in petroleum prices implemented by fuel retailers for this week. 'For two days, based on MOPS (Mean of Platts Singapore)… may chance mag roll back (there's a chance of a rollback),' Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero told GMA News Online. Romero, however, said that it is still 'too early' to be certain that a fuel price reduction could be expected in the coming week. In its projection, based on MOPS trading in the first two days of the week, Jetti Petroleum said the price movement indication for next week are as follows: Diesel — Rollback of P0.80 to P1.10 per liter Gasoline — Hike of P0.10 per liter to a rollback of P0.20 per liter 'Above are still subject to change, depending on the MOPS of the remaining days of the week,' Jetti said. MOPS is the basis for pricing of refined petroleum products in Southeast Asia. The local oil industry uses MOPS —the daily average of all trading transactions between buyers and sellers of petroleum products as assessed and summarized by Standard and Poor's Platts. The petroleum retailer attributed the expected pump price reduction next week 'with the easing of war risk premium on crude oil following the de-escalation of the conflict…[as] world oil prices further went down after the ceasefire agreement between Israel and Iran, reducing the risk of supply disruption in the Middle East.' DOE officer-in-charge Sharon Garin earlier said the as of Tuesday morning, June 24, the average price of crude oil stood at about $69 per barrel after US President Donald Trump announced that a ceasefire between Israel and Iran was already in place. For this week, fuel retailers have agreed to implement the big-time hike in petroleum prices in two tranches. Major petroleum firms hiked the prices per liter of gasoline by P1.75, diesel by P2.60, and kerosene by P2.40, effective 6 a.m. on Tuesday, June 24, 2025. The same price hikes will be implemented at 6 a.m. on Thursday, June 26, reflecting the second tranche of adjustments. — RSJ, GMA Integrated News
