PH fuel price update: Another P2.70/L hike for diesel, P0.80/L for gasoline starting October 18

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by TopGear.com.ph | Oct 17, 2022
Car being refueled at a fuel station
PHOTO: Shutterstock

Well, we were all expecting this: Fuel prices will continue to trend upward this week, although the price hikes won’t be as big as last week’s.

For the week of October 18 to 24, 2022, diesel prices will go up by P2.70 per liter, while gasoline prices are set to increase by P0.80 per liter. Last week, prices shot up by P6.85/L and P1.20/L, respectively.

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After these changes take effect, gasoline prices will have gone up by a net P16.45/L since the beginning of 2022, with prevailing retail pump prices ranging from P62.70 to P74.25 per liter for 91-octane gasoline. Diesel, meanwhile, will have had a net price increase of P38.50/L, with current pump prices ranging from P73.50 to P83.80 per liter.

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As we reported last week, several House bills have been filed to suspend or lower fuel excise taxes in order to tame rising fuel prices. It still remains to be seen, however, if these measures will actually be passed.

Philippine fuel prices, October 18 to 24, 2022:

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