Oil companies will implement a mixed price adjustment starting 6 a.m. Tuesday, with gasoline increasing by ₱0.10 per liter, and diesel and kerosene seeing rollbacks of ₱0.70 and ₱0.60 per liter, respectively.
Seaoil Philippines, PTT Philippines, Caltex, and Cleanfuel issued separate advisories, with other firms expected to follow.
“Oil prices fell this week due to demand concerns from U.S.-China trade tensions and fears of a looming supply glut in 2026,” said Jetti Petroleum President Leo Bellas.
He added that while diesel prices softened, regional gasoline inventories in Asia declined amid steady demand from Indonesia and supply gaps in the Middle East, Africa, and Europe due to refinery maintenance.
Bellas warned of further volatility due to possible changes in Russian exports, ongoing Ukrainian strikes on refineries, and British sanctions on major Russian energy firms.
Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, cited oversupply forecasts from OPEC, Russia, and the U.S., and a drop in oil’s geopolitical “risk premium” as factors behind the adjustment.
As of Oct. 14, gasoline rose ₱0.30 per liter and kerosene ₱0.20 per liter, while diesel remained unchanged. The year-to-date net increase stands at ₱15.20 per liter for gasoline, ₱17.85 for diesel, and ₱5.85 for kerosene.
