In brief
Oil firms in Manila increased gasoline by 3.50 pesos per liter, while cutting diesel by 1 peso and kerosene by 1.90 pesos per liter, according to Xinhua’s report of a local media source. The price moves reversed last week’s trend. The Philippines’ limited domestic refining capacity makes fuel prices especially sensitive to global markets.
On 3 November 2026, oil companies in Manila announced a new price structure that saw gasoline rates jump while diesel and kerosene rates fell, according to a report by Xinhua that cited a local media source.
The headline change involved a 3.50‑peso per litre hike in gasoline, a move that Xinhua attributed to companies including Shell, Seaoil, PetroGazz and Jetti Petroleum, all of which were named by the local outlet The Manila Times.
Alongside the gasoline increase, the same vehicles slipped down the price ladder: diesel was lowered by 1.00 peso per litre, a figure also taken from The Manila Times and reported by Xinhua. Shell and Seaoil were noted as the only firms to also cut kerosene prices, each reducing the rate by 1.90 pesos per litre.
These adjustments followed a reversal of last week’s pattern, when gasoline had dipped 0.30 pesos, while diesel and kerosene had seen rises of 1.20 and 0.50 pesos respectively, according to the same local report cited by Xinhua.
The Philippine energy market is heavily reliant on imports because domestic crude and refining supply is limited. Xinhua highlighted that this dependence leaves local fuel costs especially vulnerable to international market swings.
Consumer groups and traders have expressed concern that the gasoline hike could translate into higher transportation costs across the archipelago. While the reductions in diesel and kerosene may offer some relief to bulk users, the net effect of the new regime remains uncertain.
Industry analysts note that the price changes reflect broader fluctuations in the global oil market, though the Xinhua report stops short of attributing the moves to any specific external trigger.
As the country continues to import the bulk of its fuel, both motorists and businesses will be watching future announcements closely to gauge whether supply-side pressures or broader geopolitical events will drive further adjustments.