Pilipinas Shell will raise pump prices by at least 50 centavos by 12:01 a.m. on Thursday.
Gasoline will cost 50 centavos higher while the price of diesel and kerosine will go up by P1 per liter.
The move will allow Shell "to reflect higher product costs," company vice president for communications Roberto Kanapi said in a text message to reporters.
Other oil firms have not made a move similar to Shell's latest price hike.
They have said earlier, however, that oil price hikes are inevitable as the price of oil in the global market continues to rise.