Motorists who fill up with gasoline will pay more from Tuesday, November 3, after the Department of Energy (DOE) cleared an increase of up to ₱3.50 per liter. Diesel and kerosene users get some relief in the same week, with rollbacks of ₱1.00 and ₱1.90 per liter.
The DOE announced the mixed adjustments on Monday, November 2, and they run until Monday, November 9, Philstar.com reported. WWC One Media tracks pump prices every week; more on costs and markets is on our Business hub.
Oil firms moved quickly. According to GMA News Online, Petron, Seaoil and Shell Pilipinas said they would raise gasoline by ₱3.50 and cut diesel by ₱1.00 and kerosene by ₱1.90 per liter. Petro Gazz and Unioil announced the same gasoline and diesel changes. The new prices take effect at 6 a.m. on Tuesday, and other companies had yet to announce their moves when the reports came out.
A reversal for gasoline after two weeks of cuts
The increase ends a short run of relief at the pump. Rappler noted that the hike comes after two straight weeks of gasoline rollbacks. Last week, gasoline dropped by just ₱0.30 per liter, while diesel rose by ₱1.20 and kerosene by ₱0.50.
The DOE’s own price monitoring for October 27 to November 2, as cited by Rappler, put common prices in Metro Manila at ₱84.20 per liter for RON95 gasoline, ₱83.30 for RON91 gasoline, ₱94.50 for diesel and ₱123.90 for kerosene. Those figures come before this week’s changes are applied.
Prices remain far above where they were before the conflict involving Iran and US-Israeli forces broke out on February 28. In the last full week before that, Rappler said, common Metro Manila prices were ₱56 per liter for RON95, ₱54.70 for RON91, ₱55 for diesel and ₱83.47 for kerosene.
GMA News also cited year-to-date figures as of October 27: a net increase of ₱68.55 per liter for gasoline, ₱65.63 for diesel and ₱63.25 for kerosene.
What the DOE says is driving prices
In its advisory, the DOE said the changes follow movements in the global oil market amid continuing developments in the Middle East that are affecting supply and prices. Philstar.com reported that concerns over a possible United States strike on Iran after next week’s US midterm elections have also kept global oil prices from falling further.
The weak peso adds to the pressure. The Philippine currency has stayed near ₱64 to the US dollar since it closed at ₱64.17 on October 27, Philstar.com said, which can raise the local cost of imported coal, diesel and liquefied natural gas. The country imports much of its fuel as finished products, Rappler noted, leaving local prices exposed to regional fuel markets, freight costs and exchange rates.
There is one steadier note. Gasoline and diesel prices in the Asian market are expected to stay within a range, according to the DOE outlook reported by Philstar.com.
Who feels it this week
The split adjustment means the impact depends on what is in the tank. Private car owners and motorcycle riders, most of whom run on gasoline, face the ₱3.50 jump. Jeepneys, trucks, buses and many delivery vehicles that use diesel will see a ₱1.00 cut, while households that still use kerosene get the biggest rollback of the week.
The actual pump price at any station still depends on the retailer, GMA News noted, since the DOE figures are the permitted adjustments. Motorists who want to save can compare prices between stations, since the size of each company’s change may differ from the announced figures.
With this week’s prices set only until November 9, the DOE’s next weekly advisory will show whether gasoline keeps climbing or the diesel and kerosene relief continues.
