The Department of Energy (DOE) announced that gasoline prices in the Philippines will increase by up to ₱3.50 per liter effective November 4, 2026, while diesel and kerosene prices are set to decrease by at least ₱1 and ₱1.90 per liter, respectively.
According to local industry sources, the decline in diesel prices was driven by improved supply conditions following stock releases, increased Chinese exports, and higher Russian diesel shipments.
Meanwhile, gasoline prices continued to rise due to tight regional supplies despite the release of additional Chinese export quotas and higher crude oil import costs. International oil prices also remained elevated amid concerns over possible disruptions to energy supplies in the Middle East and uncertainties surrounding regional tensions following the US midterm elections.
Despite these market developments, the DOE reported that the Philippines maintained an average fuel inventory equivalent to 52.95 days of supply as of October 30.
Diesel stocks were sufficient for 56.66 days, gasoline for 52.29 days, kerosene for 148.55 days, jet fuel for 58.88 days, fuel oil for 63.3 days, and liquefied petroleum gas (LPG) for 35.12 days.
