ANOTHER big-time oil price hike takes effect this week, oil companies said Monday.
For the fifth straight week, gasoline prices will increase anew on Tuesday morning. Oil companies said they will hike gasoline products by P1.70 per liter.
Meanwhile, the price of diesel and kerosene will shoot up by over P2 per liter. Diesel prices will increase by P2.70 per liter while kerosene will go up by P2.10 per liter. This is the second consecutive week of upward adjustments for diesel and kerosene.
This week’s steep pump price hike was brought about by the higher demand amid easing US-China tensions, and the UK, US, and EU sanctions on Russia, according to the Department of Energy.
Oil companies adjust their prices every week to reflect movements in the world oil market.
In separate advisories, Shell, Caltex, Jetti, Seaoil, Total, Unioil, PT and T, Cleafuel said they will adjust their prices at 6 a.m. of November 4, except for Cleanfuel which will increase prices at 4:01 p.m. the same day.
‘The adjustments reflect the movement on prices of refined fuel products, freight and market premiums in the international market,’ Jetti said.
Last week, oil companies increased prices per liter of gasoline by P1.20, diesel by P2.00, and kerosene by P1.70. This brought year-to-date adjustments to a net increase of P16.50 per liter for gasoline, P19.15 per liter for diesel, and P6.55 per liter for kerosene as of October 28, 2025.