For the second week in a row, Filipinos will see mixed changes in fuel prices starting Tuesday. The Department of Energy confirmed Monday that gasoline will go up by P1.56 per liter and kerosene by P1.77 per liter, while diesel will drop by a bigger P3.01 per liter. As of Tuesday morning, only Seaoil has officially announced these new rates, matching the adjustments noted by the DOE. Last week, gasoline rose P1.93 per liter, kerosene P3.30 per liter, and diesel dipped P1.30 per liter.
The welcome drop in diesel prices comes from moves to ease global supply constraints, according to DOE Oil Industry Management Bureau Director Rino Abad. He explained that G7 nations releasing up to 100 million barrels of diesel, along with improved US-Russia market arrangements, are helping ease the global shortage. If these releases continue, diesel costs could stay more stable in the weeks ahead. Recent DOE data show NCR fuel prices from October 6 to 12 averaged P88.30 per liter for regular gasoline, P93.70 for diesel, and P122.70 for kerosene—markedly higher than levels seen before the Middle East conflict earlier this year.
The country’s overall fuel supply as of October 12 stands at 51.39 days, slightly lower than the 53.36 days recorded in mid-September. Gasoline and diesel stockpiles edged down, while kerosene supply rose comfortably to nearly 147 days. Energy Secretary Sharon Garin confirmed the government is pushing ahead with plans for a Philippine Strategic Petroleum Reserve. The first phase targets one million barrels of storage in Bataan by late 2027, with feasibility and preparation work ongoing. With private sector or Maharlika Investment Corp. participation, this could eventually grow to between five and 15 million barrels. The Philippines is also discussing a regional ASEAN stockpile and has offered to host part of it in exchange for priority access during emergencies.
To better monitor market conditions, the DOE is setting up a weekly National Fuel Risk Index. This system will track supply, prices, and demand, helping the government respond faster to disruptions such as shipping route problems or refinery shutdowns. Long-term, the goal is to build enough reserves to cover 60 days of fuel needs, and eventually 90 days, up from current minimum inventory rules of 15 days for finished fuels, 30 days for crude oil, and seven days for LPG.
