On Nov. 3, Philippine oil firms, including Shell, Seaoil, PetroGazz and Jetti Petroleum, raised gasoline prices by 3.50 pesos per liter and reduced diesel prices by 1 peso per liter, according to an Xinhua report. Shell and Seaoil also lowered kerosene prices by 1.90 pesos per liter.
Last week the adjustments ran in the opposite direction: gasoline fell by 0.30 pesos per liter, while diesel rose by 1.20 pesos and kerosene increased by 0.50 pesos.
The Philippines has limited domestic production and refining capacity, making it heavily reliant on energy imports each year and highly vulnerable to international market fluctuations.
Consumers will pay more for gasoline, but they could save on diesel and kerosene for certain uses, such as powering generators and fueling trucks.