Gasoline, kerosene prices rise on October 6, diesel gets slight rollback

NOT AVAILABLE. Signs are posted on fuel dispensers at a gas station in Quezon City due fuel shortages, on March 26, 2026.

REUTERS

The mixed adjustment comes after price cuts last week, while China’s suspension of refined fuel exports threatens to tighten Asian supply further

AT A GLANCE

• Starting October 6, gasoline and kerosene prices will increase, while diesel prices will see a slight rollback due to volatile fuel markets.
• Recent adjustments follow a previous rollback in fuel prices after three weeks of increases, influenced by international market dynamics and China's export policies.
• China's suspension of refined fuel exports and increased crude oil purchases may further elevate fuel prices in Asia, impacting the Philippines, which relies heavily on imported petroleum products.

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MANILA, Philippines – Gasoline and kerosene prices are going up again starting Tuesday, October 6, while diesel prices are set to fall slightly, as fuel markets remain volatile after the previous week’s rollback.

The Department of Energy announced the following fuel price adjustments for the week of October 6 to 12:

• Gasoline – increase of P1.93 per liter
• Diesel – rollback of P1.30 per liter
• Kerosene – increase of P3.30 per liter

Before the latest adjustment, the Department of Energy’s price monitoring showed common retail prices in Metro Manila at P94.10 per liter for gasoline RON95, P87.20 per liter for gasoline RON91, P95.70 per liter for diesel, and P125 per liter for kerosene for the week of September 29 to October 5.

The mixed movement follows last week’s rollback, which saw gasoline, diesel, and kerosene prices finally fall after three consecutive weeks of steep increases.

“Gasoline prices increased due to a combination of regional supply constraints, refinery operating
conditions, and sustained demand in key consuming countries. In particular, Chinese gasoline
exports were expected to decline during the October 1–7 Golden Week holiday due to the late
release of export quotas, while South Korea was expected to reduce gasoline output for four to five
days,” the DOE said in a press release on Monday.

The diesel rollback is still a carry-over from the previous week’s drop in international diesel prices, so it does not yet fully capture the more recent developments pushing fuel costs higher again.

“Diesel prices in the region were affected by changing supply and shipping conditions. Asian diesel
prices remained generally high but were volatile as shipping costs stayed elevated and price
differences between regional markets changed. These developments contributed to the decrease
in diesel prices during the monitoring period,” the DOE said.

Worryingly, however, those pressures are building as China suspends refined fuel exports, while disruptions around the Strait of Hormuz and the Bab al-Mandab continue to threaten major oil and fuel shipping routes.

Chinese refiners have temporarily suspended exports of petroleum products outside Hong Kong and Macau as Beijing seeks to rebuild domestic fuel inventories. 

At the same time, China has also stepped up its purchases of crude oil as refiners seek to replenish supplies and replace disrupted Iranian and other Middle Eastern barrels. Chinese independent refiners have snapped up cargoes from Russia, West Africa, Canada, and South America in recent weeks, adding competition and supporting even higher spot premiums.

The combination of China buying more crude while withholding more of its refined fuel output from overseas buyers could add further upward pressure on Asian fuel markets in the coming weeks.

China is the world’s largest oil refining market by capacity and an important source of fuel for the Philippines. In 2025, it supplied 3.78 billion liters, or about 20% of the country’s imported finished petroleum products, second only to South Korea. 

Local pump prices also remain well above levels seen before fighting involving Iran and US-Israeli forces broke out on February 28. In the last full week before the conflict, DOE data showed common retail prices in Metro Manila at P56 per liter for gasoline RON95, P54.70 per liter for gasoline RON91, P55 per liter for diesel, and P83.47 per liter for kerosene.

The Philippines is a net importer of petroleum products, making local pump prices vulnerable to global oil price swings, foreign exchange movements, regional refined fuel prices, and disruptions in international supply routes. – Rappler.com