Price Tracker: Oil, fuel monitor for Nov. 10–16
Gasoline prices will drop by P16.80 per liter starting November 10, leading a major round of fuel price rollbacks.
MANILA, Philippines — Gasoline, diesel and kerosene prices in the Philippines will see significant reductions this week, according to the Department of Energy. The price cuts will come into effect from November 10 to 16, 2026, with gasoline experiencing the steepest decline at P16.80 per liter.
The Department of Energy cited easing concerns over the US-Iran conflict as the primary reason behind the substantial price reductions. The recent Democratic Party victory in the US midterm elections, which resulted in control of both chambers of Congress, has bolstered market expectations of a decrease in military escalation against Iran. Additionally, progress in diplomatic efforts related to Iran's nuclear program and the Strait of Hormuz has contributed to alleviating fears of disruptions to Middle East oil supplies.
The Philippine peso strengthened to approximately P63 against the US dollar by the end of last week. A stronger peso generally lowers the local cost of imported fuel, which is believed to be a contributing factor to the price reductions. The new price adjustments will be implemented starting Tuesday, November 10, and will remain in effect until Monday, November 16. However, the actual prices may vary depending on the location and specific gas station.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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