OIL MONITOR As of 22 April 2025

Date published: April 24, 2025

WORLD OIL PRICES (April 14-18, 2025, trading days)

The week-on-week price of Dubai crude increased by about $2.51 per barrel.  The international prices of gasoline have also increased by about $2.82 per barrel along with kerosene by about $2.59 per barrel and diesel by around $2.62 per barrel.

Reasons for the Price Adjustment1

  • Crude oil futures were higher after the imposition of new US sanctions on a Chinese refinery and demand optimism after lower US gasoline inventories.  The US sanctioned another Chinese independent refinery for purchasing Iranian crude on April 16, intensifying pressure on Iran amid the ongoing nuclear negotiations with Tehran.
  • The Asian gasoline market remained stronger, as US President Donald Trump said that the US could possibly exempt the auto industry from tariffs.  Some market participants said that Asian gasoline prices could rise due to lower US gasoline supplies.
  • The Asian ultra-low sulfur gasoil market saw firmness on expectation of shorter near-term supply and remained on expectation of limited direct impact from US-China trade conflicts.
  • The Asian jet fuel/kerosene market saw an uptick earlier this week from expected supply tightness for near term as arbitrage to US West Coast opening due to series of planned and unplanned shutdown.  A medium-term bearish outlook was heard due to the economic disruption caused by the US trade policy, as an economic slump would impact on passenger travel.

FOREX:  The week-on-week average of Philippine peso appreciated versus the US dollar by P0.33 to P56.88 from P57.22 in the previous week.

 

DOMESTIC OIL PRICES

Effective 22 April 2025, local oil companies implemented a price increase of P1.35/liter for gasoline, P1.30/liter for diesel and P1.10/liter for kerosene.

Year-to-date, gasoline has a total net increase of P2.30/liter, diesel total net increase of P2.85 while kerosene has a total net decrease of P1.80/liter.

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

Other recommended reference sites:                

1 Asia Pacific 18 April 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

 

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