Expect higher fuel prices next week

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November 8, 2025 | 12:00am

MANILA, Philippines — Fuel prices are projected to rise yet again next week following back-to-back major hikes, delivering another blow to motorists.

Oil industry experts indicated a potential per-liter price increase of P0.50 to P0.70 for diesel and around P0.35 for kerosene. Gasoline prices, on the other hand, are seen declining by around P0.35 per liter.

The estimates reflect the trading results in the global oil market over the past four days. Final price adjustments will be announced on Monday and will take effect the following day.

Rodela Rodela, assistant director at the Department of Energy’s Oil Industry Management Bureau, said the expected price hike was due to Ukraine’s recent drone strike on Russia’s Black Sea port, a key export hub.

The incident comes on top of sanctions slapped on Russian oil majors Rosneft and Lukoil over Moscow’s continued invasion of Ukraine.

“While crude price benchmarks have eased down slightly week-on-week as demand weakened due to significant refinery turnarounds and worries of a potential supply glut, prices of refined fuel products have remained elevated due to supply concerns,” Jetti Petroleum president Leo Bellas said.

Last Tuesday, oil firms hiked gasoline, diesel and kerosene prices by P1.70, P2.70 and P2.10 per liter, respectively.