MANILA — Gasoline prices are down while diesel prices are going up in the first week of November.

Oil companies announced the following price adjustments starting Tuesday, November 5. 

PILIPINAS SHELL, SEAOIL, CALTEX (effective 6 a.m.)
Gasoline - P0.10/liter decrease
Kerosene - P0.50/liter increase
Diesel - P0.75/liter increase

CLEANFUEL (effective 4:01 p.m.)
Gasoline - P0.10/liter decrease
Diesel - P0.75/liter increase

PETROGAZZ, JETTI PETROLEUM (effective 6 a.m.)
Gasoline - P0.10/liter decrease
Diesel - P0.75/liter increase

Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said the price increase was driven by the geopolitical tensions in the Middle East.

US inventory also dipped and the reduction in OPEC production contributed, too.

Eight OPEC+ members extend oil supply cuts until year end

Romero said the upward movement in diesel incorporated the increase in biodiesel content in diesel. But it remains unclear whether this is already the complete recovery or just a partial recovery of the adjustment estimated to reach P0.60-P0.70/liter.