Marilyn Cahatol

Public Utility jeepney drivers line up to refuel at a gasoline station in West Avenue in Quezon City on September 18, 2023, bracing themselves for another price hike the following day. Diesel prices are slated to go up by 2.50 pesos per liter, with Kerosene and Gasoline prices increasing at 2 pesos per liter. Jonathan Cellona, ABS-CBN News

Article (news)

OIL PRICE HIKE

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:604px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/176126061762820230918-oil-price-hike-JC2847.jpg" style="width:960px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left">Public Utility jeepney drivers line up to refuel at a gasoline station in West Avenue in Quezon City on September 18, 2023, bracing themselves for another price hike the following day. Diesel prices are slated to go up by 2.50 pesos per liter, with Kerosene and Gasoline prices increasing at 2 pesos per liter. <em>Jonathan Cellona, ABS-CBN News </em></span></span></span></div><p>MANILA — Motorists should gear up for a new wave of oil price increases next week, the Department of Energy said Friday, Oct. 24.</p><p>Based on the four-day trade monitoring of the Meansof Platts Singapore, DOE Oil Industry Management Bureau Assistant Director Rodela Romero said the following increases are expected next week:</p><p>Gasoline – P0.30/ liter</p><p>Diesel – P0.80/ liter</p><p>Kerosene – P0.80/ liter</p><p>Romero said the hikes were caused by the increase in the United States’ refinery demand, prompting a decrease in its crude inventory.</p><p>US President Donald Trump also announced <a href="https://www.abs-cbn.com/news/business/2025/10/23/crude-spikes-as-trump-threatens-russian-giants-stocks-turn-lower-1122">new sanctions </a>against Russian oil companies Rosneft and Lukoil following unsuccessful Ukraine peace efforts with Russian President Vladimir Putin.</p><p>“Dahil sa sanction na iyon, tumaas na naman &#x27;yung geopolitical rift,” said Romero.</p><div><a href="https://www.abs-cbn.com/news/business/2025/10/20/gasoline-up-diesel-down-in-3rd-week-of-october-1042">Gasoline up, diesel down in 3rd week of October</a></div><div><br/></div><div><strong>RELATED VIDEO:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/N-E5KBmS-UU?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>Motorists should gear up for a new wave of oil price increases next week, the Department of Energy said Friday, Oct. 24.</p>

Motorists should gear up for a new wave of oil price increases next week, the Department of Energy said Friday, Oct. 24.

New wave of oil price hikes seen next week

News

Entertainment

Lifestyle

Sports

Metro.Style

More

BINI

Sudoku

Word of the Day

Lotto

Horoscope

Business

New wave of oil price hikes seen next week

Marilyn Cahatol,

ABS-CBN News

Published October 24, 2025 07:42 AM PHT

|

Updated October 24, 2025 10:03 AM PHT

Read More:

Oil

DOE

Russia

United States

Ukraine

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

Sign Up

I have read and agree to the Terms and Privacy Policy.

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.