TITLE: Philippines Faces Mixed Fuel Price Shift: Gasoline Up, Diesel Down
Private motorists across the Philippines woke Tuesday to a significant P3.50 per liter surge in gasoline prices, effective 6 a.m. November 3, 2026.
In stark contrast, consumers reliant on diesel saw a P1.00 per liter decrease, while those using kerosene experienced an even more substantial reduction of P1.90 per liter. These divergent adjustments mark a direct reversal of the previous week’s trend, which had seen gasoline prices slightly decrease while diesel and kerosene climbed.
The Department of Energy (DOE) attributed these complex price movements primarily to ongoing fluctuations within the international oil market. A core driver, according to the DOE, remains the persistent supply pressures stemming from the protracted conflict in the Middle East, which continues to keep crude oil benchmarks elevated and injects an element of unpredictability into global supply chains.
Oil industry sources further elaborated, indicating that an easing supply outlook specifically for diesel contributed to its price reduction. Conversely, gasoline faced higher imported costs of crude, which directly pushed its pump price upward, reflecting distinct supply-demand dynamics for different refined petroleum products in the global market.
Domestically, the relentless depreciation of the Philippine peso against the U.S. dollar remains a significant and consistent factor in local fuel pricing. With the peso hovering near the P64-per-dollar level, the cost of imported crude oil and refined petroleum products, all denominated in U.S. dollars, naturally escalates when converted to the local currency.
The DOE noted this weaker peso could also lead to higher local costs for other imported energy commodities like coal and liquefied natural gas, indicating broader inflationary risks.
Families in rural areas who depend on kerosene for lighting or cooking will also benefit from the P1