Marilyn Cahatol

Motorists line up to buy fuel at a gas station in Mandaluyong City on March 22, 2022. Oil firms implemented price rollbacks today after price hikes the last 11 weeks. George Calvelo, ABS-CBN News

Article (news)

Alvin Elchico

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/176186537739820220322-gas-station-rollback-GC-26.jpg" style="width:960px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left">Motorists line up to buy fuel at a gas station in Mandaluyong City on March 22, 2022. Oil firms implemented price rollbacks today after price hikes the last 11 weeks. <em>George Calvelo, ABS-CBN News </em></span></span></span></div><p>MANILA<strong> (UPDATE)</strong> — Another bigtime increase looms for diesel, gasoline and kerosene next week as imported fuel prices soar in the international market.</p><p>After 4 trading days, here are the results without any premium costs yet based on data from the Department of Energy:</p><p>• Diesel      -  P2.15/liter hike </p><p>• Gasoline  -  P1.19/liter hike </p><p>• Kerosene -  P1.77/liter hike </p><p>With premium costs, Petti Petroleum said diesel prices could rise by around P2.50-P2.70/liter while gasoline may rise by as much as P1.50/liter.</p><p>The same major reason was cited as last week&#x27;s — the fresh sanctions against 2 Russian oil firms which creates anxiety in the market due to potential tightness in global oil supply.</p><p>In the Philippines, the net increase for diesel will breach the P20/liter mark if the P2 hike pushes through next week.</p><p>If the increase is P2.50, motorists, particularly jeepney drivers who use diesel, will be hit by an almost P5/liter increase in just a span of two weeks.</p><p>When asked if there is some relief for diesel users in the coming weeks, Jetti Petroleum President Leo Bellas said prices are likely to remain high due to existing factors.</p><p>Even the trade agreements between China and the United States will further push prices up, according to some analysts, as this will prompt more oil consumption.</p><div><strong> </strong></div><div><strong>JEEPNEY FARE HIKE</strong></div><div> </div><p>Several jeepney drivers interviewed by ABS-CBN News prefer not to increase the minimum fare if the government can help bring down diesel prices to less than P50/liter.</p><p>Diesel now retails for P48 to P66/liter and prices below P50 are a rare find, while the common diesel prices hover between P52-P55/liter.</p><p>The  Land Transportation Franchising and Regulatory Board had earlier said it would decide soon on the fare hike petition of jeepney operators but no decision has been released so far. </p><p>&quot;LTFRB is giving top priority to the fare hike petitions filed by various groups specially with the anticipated rise in fuel cost this week. This is our No. 1 priority as fare adjusment affects the ability of operators to maintain their vehicles properly to ensure road safety kaya No. 1 priority po namin ito,&quot; said LTFRB chairman Vigor Mendoza in a text message.</p><div><strong> </strong></div><div><strong>LPG ROLLBACK</strong></div><div> </div><p>But there&#x27;s some dash of good news as cooking gas prices are going down on November 1, 2025.</p><p>November contract price has gone down by $17/metric ton, which is equivalent to a rollback of P1/kg or P11 per 11kg cylinder.</p><p>Regasco President Arnel Ty said his company will implement a P1/kg rollback starting 6 a.m., November 1, 2025.</p><p>Other major players have yet to announce any price adjustment.</p><div> </div><div><br/></div><div><strong>RELATED VIDEO:</strong></div><div style="text-align:center"><iframe width="560" height="315" src="https://www.youtube.com/embed/fjGJ8tUP_HI?si=3W3Q9gOflvG72Dmg" title="YouTube video player" frameBorder="0" allowfullscreen=""></iframe></div>

<p>A big jump in oil prices is expected as November comes next week, Department of Energy said Friday, Oct. 31.</p>

A big jump in oil prices is expected as November comes next week, Department of Energy said Friday, Oct. 31.

Big jump in oil prices projected as November comes

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Big jump in oil prices projected as November comes

Alvin Elchico,

ABS-CBN News

Published October 31, 2025 07:28 AM PHT

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Updated October 31, 2025 07:21 PM PHT

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