DoE Sees Jumbo Rollback in Gasoline Prices of at Least P16 a Liter This Week - BusinessWorld Online
The Department of Energy said the cuts follow a drop in global oil prices and a stronger peso, with prices set to hold through Nov. 16.
- The Department of Energy announced a major fuel price rollback effective Tuesday, November 10, cutting gasoline by P16.80 per liter, diesel by P4.10, and kerosene by P3.70 per liter.
- Global oil prices plunged last week following the Democratic Party's strong showing in the United States midterm elections, fueling investor hopes that Middle East tensions may de-escalate.
- Energy Secretary Sharon Garin noted that the Philippines imports about 98% of its crude oil requirements, making domestic fuel prices highly sensitive to international market volatility.
- To cushion supply disruptions, the government is evaluating a "ticketing" system, Energy Undersecretary Alessandro Sales said, under which the Philippines would buy reservations for crude oil.
- Stabilizing pump prices remains difficult, Garin noted, as market movements depend on the peso recovering to pre-conflict levels and broader geopolitical conditions involving Iran.
11 Articles
11 Articles
DoE sees jumbo rollback in gasoline prices of at least P16 a liter this week - BusinessWorld Online
MOTORISTS can expect a sharp drop in pump prices this week, with gasoline set for a rollback of as much as P16.80 per liter as international oil prices retreat on expectations of easing tensions involving the US and Iran, the Department of Energy (DoE) said on Monday.
Nearly P17/liter gasoline price cut set this week
MANILA, Philippines — Motorists will see a significant drop in fuel pump prices, particularly gasoline, reaching up to nearly P17 per liter this week. In a media briefing, Department of Energy (DOE) Secretary Sharon Garin said gasoline prices would decline by at least P16.80 per liter starting Nov. 10. READ: US midterm results may cut
They will be valid until November 16 inclusive.
Philippines maintains 50-day fuel buffer as retail pump prices see significant decline
Fuel prices are set for a significant decline on Tuesday, November 10, 2026, with gasoline seeing the steepest drop of P16.80 per liter. According to the Department of Energy (DOE), diesel and kerosene will also decrease by P4.10 and P3.70 per liter, respectively. The anticipated price cuts provide immediate relief to motorists and transport operators, coinciding with the government's ongoing support for the transport sector. The DOE reported th…
Coverage Details
Bias Distribution
- 56% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
