Philippines fuel retailers cut gasoline prices as diesel, kerosene rise

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Philippines mixed fuel prices

Highlights

Gasoline prices in the Philippines will drop by P0.30 per liter on Oct. 27, while diesel and kerosene will increase by P1.20 and P0.50 per liter, respectively.
The nationwide petroleum stock remains stable at a 53-day supply buffer, with the government suspending PNOC sales and planning an additional storage facility.
Energy Secretary Sharon S. Garin warns that instability in the Middle East could persist through 2027, prompting the Philippines to seek expanded storage and alternative supply sources.

Weekly pump price adjustments take effect Tuesday

As reported by BusinessWorld Online, citing the Department of Energy, gasoline prices will decline by P0.30 per liter, while diesel and kerosene prices will rise by P1.20 per liter and P0.50 per liter, respectively. Seaoil Philippines, Inc. and Shell Pilipinas Corp. will implement the new prices starting Tuesday, Oct. 27.

The latest move marks the second consecutive week of gasoline price declines and the third straight week of diesel increases. The adjustments underscore diverging trends in local fuel products even as overall petroleum availability remains steady.

Supply buffer supports energy security plan

Energy Secretary Sharon S. Garin says the country’s petroleum supply remains stable and can last for about 53 days. She says the government remains open to alternative sources of supply if disruption occurs, adding that the Philippines’ role as chair of this year’s ASEAN summit helps it engage more countries and companies willing to supply the country.

Despite the stable inventory, the government is retaining existing reserves held by state-run Philippine National Oil Co. and is temporarily suspending sales. Garin says PNOC is also working on a project to build its own storage facility as part of a plan to cushion the Philippines against oil shocks through a strategic national oil reserve.

She adds that the government is in talks with other countries to expand storage capacity because the situation in the Middle East remains unstable and has no immediate resolution. Garin says the crisis could extend beyond 2026 and possibly into 2027, reinforcing the need to strengthen domestic supply protection.

In our earlier article on the surge in oil shipping and tanker charter costs, we explained how conflict-related risks on key routes such as the Red Sea and the Strait of Hormuz have sharply raised freight and insurance premiums. We noted that these higher transport costs can quickly filter through to import-dependent markets like the Philippines, adding pressure to pump prices and broader consumer inflation.

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