Fuel companies announced price hikes starting Tuesday, November 18.
SHELL Pilipinas and SEAOIL reported increases of ₱1.20 per liter for gasoline and diesel, with kerosene unchanged, effective 6 a.m. CleanFuel followed at 4:01 p.m., raising gasoline and diesel by ₱1.20 per liter. Petrogazz also increased gasoline and diesel by ₱1.20 per liter, effective 6 a.m.
Analysts linked the rising pump prices to a rally in crude oil, citing potential disruptions in Russian oil flows from Ukrainian strikes and ongoing U.S. sanctions.