Filipino motorists are in for significant relief at the pump next week. The Department of Energy (DOE) announced a sharp rollback in petroleum prices for November 10 to 16, 2026. Gasoline will drop by P16.80 per liter, diesel by P4.10, and kerosene by P3.70.
The DOE’s Oil Industry Management Bureau attributed the cuts mainly to growing expectations of a diplomatic resolution to the US-Iran conflict, which has eased fears of further oil supply disruptions from the Middle East. Mediation efforts by Qatar and recent political developments in the United States have strengthened hopes of reduced military escalation, lowering the geopolitical risk premium that had been built into international oil prices.
Market sentiment has also improved on expectations of steadier oil shipments through the Strait of Hormuz, a critical passage for global petroleum trade. Calmer conditions could allow Gulf producers to export more oil, reduce shipping insurance and transportation costs, and improve crude availability for Asian refineries.
Energy Secretary Sharon S. Garin welcomed the reductions but stressed the need for vigilance amid global market uncertainties. “This substantial rollback is welcome relief for Filipino motorists, public transport operators, and households,” she said, adding that the DOE will closely monitor fuel price adjustments and engage industry stakeholders so that falling international prices are reflected at the pump.
On supply, the DOE reported that the country held an estimated 50.33 days of total petroleum supply as of November 6. Gasoline inventories stood at 51.64 days and diesel at 53.95 days. The department said these levels provide enough buffer for fuel requirements amid shifting global conditions, and it continues to coordinate with industry players to keep fuel distribution uninterrupted nationwide.
Source: DoE
