Philippines Department of Energy Announces Mixed Fuel Price Adjustments

The Department of Energy announced fuel price adjustments for the period of November 3 to 9, featuring a significant increase in gasoline prices of up to P3.50 per liter. In contrast, diesel and kerosene prices will see rollbacks of at least P1 and P1.90 per liter, respectively.

These adjustments follow a volatile period where the previous week saw a minor gasoline rollback and price increases for diesel and kerosene. Current pump prices in the National Capital Region remain substantially higher than levels recorded before the February 28 conflict involving Iran and US-Israeli forces.

Domestic costs remain susceptible to exchange rates and regional market shifts due to the Philippines' reliance on imported finished petroleum products. To mitigate some of these costs, excise taxes on kerosene and liquefied petroleum gas remain suspended under an executive order issued by President Ferdinand Marcos Jr.