Oil Monitor as of 10 June 2025

WORLD OIL PRICES (June 2-6, 2025, trading days)

The week-on-week price of Dubai crude has increased by around $0.12 per barrel.  The international prices of gasoline, diesel and kerosene have also increased by about $0.17, $1.23 and $0.48 per barrel, respectively.  

Reasons for the Price Adjustment1

Crude oil prices had mixed movements over the week as the market focuses on the risk outlook brought by the escalating tensions between Russia and Ukraine while US-China talks over tariff signifies progress and OPEC+ confirmed output bringing more barrels to the market.

  • Escalating tensions between Kyiv and Moscow supported the oil prices while potential Saudi Arabia output hikes in August and September fueled concerns over a well-supplied market.
  • Geopolitical tensions continued to underpin crude prices. The US lawmakers have been seeking to impose steep tariffs on buyers of Russian crude in response to Russia's ongoing war with Ukraine.
  • Market fundamentals remain relatively tight on seasonal summer demand despite confirmed additional output by OPEC+.
  • US commercial crude oil inventories fell 4.3 million barrels in the week ended May 30, marking the strongest draw-down since November 2024
  • Gasoline remained supported while market participants continue to await the results of Indonesia's.  Meanwhile. China is expected to export approximately 611,000 mt of gasoline in June, up from May volume.
  • The Asian ultra-low sulfur gasoil/diesel market remained strong with unexpected refinery outages lending some support to the complex. Recent refinery outages in Japan attracted more barrels to the Far East which were supposed to go to the West.

 

FOREX:  The week-on-week average of Philippine peso depreciated versus the US dollar by P0.20 to P55.72 from P55.51 in the previous week.

 

DOMESTIC OIL PRICES

Effective 10 June 2025, the oil companies implemented an increase of P0.60/liter for gasoline, P0.95/liter for diesel and P0.30/liter for kerosene.

This brings a total net increase of P5.10/liter for gasoline and P4.85/liter for diesel.  Kerosene has a total net decrease of P2.25/liter.

 

For the updated prevailing retail pump prices, please refer to this link:

Other recommended reference sites:                

1 Asia Pacific 03 January 2025 Weekly Oil Recap by S & P Global Platts Analytics 

For more information, call the

Department of Energy
Pricing: 8840-2187
LPG: 8840-2130
Fuels: 8840-5669

Website: https://www.doe.gov.ph