Drivers may want to gas up early, as another major fuel price hike is set to take effect on Tuesday, November 4.
Fuel prices have been on an almost weekly rise, and the coming increase of up to P2.70 per liter marks the biggest since June.
On Tuesday, oil firms will raise gasoline prices by P1.70 per liter, diesel by P2.70 and kerosene by P2.10.
Shell Pilipinas, Caltex, Seaoil, CleanFuel and PetroGazz announced the upward price adjustments on Monday, November 3.
Industry experts said the latest fuel price hike is driven by new sanctions imposed by the United States on two Russian oil firms. Britain likewise sanctioned Russia’s two largest refineries in October, adding to the restrictions it already imposed on other major producers from Moscow in 2025.
As the United Kingdom rolled out new sanctions, Foreign Secretary Yvette Cooper stressed their importance in curbing Russia’s aggression and maintaining stability in Europe and the UK through ensuring Ukraine’s security.
The global oil market remains under pressure from geopolitical tensions, as sanctions restrict output from some of the world’s largest producers and unrest in the Middle East compounds supply concerns.
Despite expected increases in oil production through year-end and 2026, prices show no signs of slowing. And with this week’s fuel price hike, year-to-date increases are set to breach the P20-per-liter mark for the first time, meaning fuel now costs roughly P20 more than it did in 2024.
According to the Department of Energy’s monitoring, prevailing fuel prices at pump stations from October 28 to November 3 are:
Gasoline (RON97/100) – P64.64
Gasoline (RON95) – P55.30
Gasoline (RON91) – P57.20
Diesel – P54.05
Diesel Plus – P57.30
Kerosene – P79.11
The net increase now stands at P18.20 per liter for gasoline, P21.85 per liter for diesel, and P8.65 per liter for kerosene.
Total net change of fuel prices in 2025