Manila: Oil prices will rise by as much as PHP1 per liter on Tuesday on sustained supply concerns partly due to geopolitical issues overseas.

According to Philippines News Agency, in separate advisories Monday, Seaoil, PTT Philippines, Jetti Petroleum, and Petron announced that the price of their respective gasoline products will increase by PHP0.60 per liter and diesel by PHP1 per liter effective 6 a.m. on Feb. 10. Seaoil and Petron also indicated that the price of kerosene will be hiked by PHP0.60 per liter at the same time.

Caltex will implement the same adjustments for gasoline, diesel, and kerosene effective 6:01 a.m. This marks the fifth consecutive week that fuel prices have risen this year due to ongoing supply issues.

These price increases contradict earlier forecasts that predicted price cuts due to an oversupply expected in the first quarter of 2026. Last week, gasoline prices increased by PHP0.80 per liter, diesel by PHP1.60 per liter, and kerosene by PHP1.10 per liter.