Major fuel price rollbacks set Nov. 10 with gasoline seen to fall P16.8

Passenger buses are seen on a road with other motorists in Manila on Sept. 22, 2026.

AFP / Ted Aljibe

MANILA, Philippines — Motorists can finally expected sharply lower pump prices Tuesday, led by a P16.80-per-liter cut in gasoline after several weeks of mixed adjustments.

The Department of Energy announced the following changes Monday, November 9:

• Gasoline: down P16.80 per liter
• Diesel: down P4.10 per liter
• Kerosene: down P3.70 per liter

The new prices are expected to remain in effect through Monday, November 16.

The rollback follows last week's P3.50-per-liter increase in gasoline. Diesel and kerosene prices fell by P1 and P1.90 per liter, respectively.

Industry forecasts late last week had pointed to smaller cuts, particularly for gasoline. The DOE has yet to clarify whether the reductions will be implemented in full Tuesday or staggered.

Global oil prices have come under pressure as concerns eased over further U.S. strikes on Iran following Democratic gains in the midterm elections.

The party's gains in both chambers of Congress strengthened its ability to oppose legislative measures supporting further U.S. military action in the Middle East.

U.S. President Donald Trump also told CNN that future attacks on Iran were "unlikely" if negotiations progressed over Tehran's nuclear program and the reopening of the Strait of Hormuz, a major route for global oil and liquefied natural gas shipments.

The peso, meanwhile, remained near the P63-to-$1 level, opening at P63.06 against the dollar Monday.

Because petroleum products are traded in dollars, a stronger peso lowers the local-currency cost of imported fuel, while a weaker peso makes those purchases more expensive.