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Manila Bulletin devider Business devider The Economy devider Fuel prices to soar Tuesday: Diesel up ₱2.7/liter, gasoline ₱1.7/ liter

Fuel prices to soar Tuesday: Diesel up ₱2.7/liter, gasoline ₱1.7/ liter

Published Nov 3, 2025 11:56 am  |  Updated Nov 3, 2025 02:22 pm
Oil Price Hike set on november 2025
Oil Price Hike set on november 2025
Motorists are bracing for yet another increase in fuel costs this week as global supply constraints and sustained demand push local pump prices higher for the fifth consecutive week for gasoline.
Fuel retailers on Monday, Nov. 3, announced price adjustments, with gasoline rising by ₱1.7 per liter, diesel by a steeper ₱2.7 per liter, and kerosene by ₱2.1 per liter, marking the second straight weekly hike for both diesel and kerosene.
The adjustments will take effect starting Tuesday, Nov. 4. Chevron Philippines Inc. (Caltex) and Shell Pilipinas Corp. will implement the changes at 6 a.m., while Cleanfuel will follow at 4:01 p.m. Cleanfuel will apply the increases for gasoline and diesel.
The price hikes were broadly in line with projections from the Department of Energy-Oil Industry Management Bureau (DOE-OIMB), which had forecast increases of over ₱1 for gasoline and kerosene, and more than ₱2 for diesel.
The surge in prices is being primarily attributed to new sanctions imposed by the United States (US), the United Kingdom, and the European Union targeting Russia’s major oil firms, Rosneft and Lukoil, which have created “significant compliance risks and uncertainty” in the market, according to Jetti Petroleum President Leo Bellas.
Rosneft and Lukoil collectively account for over five percent of global oil output.
Moreover, the expected easing of trade tensions between the US and China, coupled with growing seasonal demand, is driving an uptick in consumption.
DOE-OIMB Director Rodela Romero noted that while stronger demand typically signals a positive economic outlook, the Russian sanctions are likely to result in supply disruption.
The latest round of increases follows last week's adjustments of ₱1.2 for gasoline, ₱2 for diesel, and ₱1.70 for kerosene.
These latest hikes further solidify the year-to-date trend of rising fuel costs for Filipino consumers. As of Oct. 28, 2025, the cumulative net price adjustments stood at a net increase of ₱16.50 per liter for gasoline.
Diesel’s net increase is ₱19.15 per liter, and kerosene's net increase is ₱6.55 per liter.

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oil price adjustment Oil price hike
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