Motorists should brace for another round of fuel price hikes this week, with oil companies set to implement across-the-board increases on Tuesday morning, October 29.
According to industry announcements, gasoline prices will rise by ₱1.20 per liter, diesel by ₱2.00, and kerosene by ₱1.70. The adjustments will take effect at 6:00 a.m. for Seaoil, Jetti, and PTT, and at 6:01 a.m. for Caltex.
Oil firms attributed the latest hike to global market jitters following new U.S. sanctions on Russia’s two largest oil companies, which have disrupted supply flows in Asia. Jetti Petroleum president Leo Bellas said the move has led Chinese and Indian refiners to cut Russian crude imports, pushing other buyers to seek alternative sources and tightening supply.
The increase follows last week’s mixed price adjustments, when gasoline went up by ₱0.10 per liter while diesel and kerosene dropped by ₱0.70 and ₱0.60, respectively.
With this week’s adjustment, total year-to-date increases now stand at ₱16.50 per liter for gasoline, ₱19.15 for diesel, and ₱6.55 for kerosene.
As of October 21–27, Department of Energy data show average pump prices in Metro Manila at ₱55.40 per liter for RON 91 gasoline, ₱54.75 for diesel, and ₱75.82 for kerosene.
