The gasoline price in the Philippines continued to fluctuate in 2023 and the first quarter of 2024, reaching 68.67 Philippine pesos per liter in March 2024. The retail price of petrol peaked between May and June 2022.   Which countries supply petroleum products to the Philippines? The refined petroleum products supply in the Philippines is mainly imported from South Korea, which accounts for 31 percent of the total import share. Singapore and China also provide a large share of the country’s petroleum product supply. Due to a dormant oil refining capacity, the production of petroleum refinery products in the Philippines has shown sluggish growth recently, further emphasizing the need for importing such products. Leading petroleum companies in the Philippines As of March 2023, Shell Pilipinas Corporation held the highest share of the petroleum market in the Philippines, with a market share of about 16 percent. The company operated its own petroleum refinery until 2020, when it decided to focus on imports. There is only one operating oil refinery in the country, which is run by the second-largest oil company – Petron Corporation.

Philippines Retail Price: Petroleum: NCR: Common Price: Average: Diesel data was reported at 58.255 PHP/l in Feb 2025. This records a decrease from the previous number of 59.315 PHP/l for Jan 2025. Philippines Retail Price: Petroleum: NCR: Common Price: Average: Diesel data is updated monthly, averaging 28.805 PHP/l from Jan 1990 (Median) to Feb 2025, with 422 observations. The data reached an all-time high of 83.739 PHP/l in Jun 2022 and a record low of 4.960 PHP/l in Sep 1990. Philippines Retail Price: Petroleum: NCR: Common Price: Average: Diesel data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.P012: Retail Price: Petroleum.

Philippines Retail Price: NCR: PP: Premium Gasoline: RON95: Caltex: Low data was reported at 65.450 PHP/l in 26 Jan 2023. This stayed constant from the previous number of 65.450 PHP/l for 25 Jan 2023. Philippines Retail Price: NCR: PP: Premium Gasoline: RON95: Caltex: Low data is updated daily, averaging 46.050 PHP/l from Sep 2013 (Median) to 26 Jan 2023, with 3407 observations. The data reached an all-time high of 81.900 PHP/l in 27 Jun 2022 and a record low of 31.900 PHP/l in 22 Feb 2016. Philippines Retail Price: NCR: PP: Premium Gasoline: RON95: Caltex: Low data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.P016: Retail Price: Petroleum Products in Metro Manila. [COVID-19-IMPACT]

Philippines Retail Price: Petroleum: NCR: Common Price: Average: RON 95 data was reported at 63.345 PHP/l in Feb 2025. This records a decrease from the previous number of 63.420 PHP/l for Jan 2025. Philippines Retail Price: Petroleum: NCR: Common Price: Average: RON 95 data is updated monthly, averaging 53.793 PHP/l from Jan 2014 (Median) to Feb 2025, with 134 observations. The data reached an all-time high of 83.696 PHP/l in Jun 2022 and a record low of 36.030 PHP/l in Feb 2016. Philippines Retail Price: Petroleum: NCR: Common Price: Average: RON 95 data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.P012: Retail Price: Petroleum.

The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2024 fall in prices was the result of weakened demand outlooks, primarily from China.

Have timely access to reliable Gasoline price assessments in Philippines:

• Gasoline, import transaction price, cif, Philippines

Each assessment includes Gasoline price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

Gasoline price assessments for Philippines and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.

Gasoline prices of Philippines plummeted by 18.10% from 1.05 US dollars per liter in 2014 to 0.86 US dollars per liter in 2016. Since the 19.05% surge in 2012, gasoline prices sank by 31.20% in 2016. Fuel prices refer to the pump prices of the most widely sold grade of gasoline. Prices have been converted from the local currency to U.S. dollars.

Philippines Retail Price: Petroleum: NCR: Common Price: Average: RON 91 data was reported at 60.425 PHP/l in Feb 2025. This records a decrease from the previous number of 60.569 PHP/l for Jan 2025. Philippines Retail Price: Petroleum: NCR: Common Price: Average: RON 91 data is updated monthly, averaging 52.241 PHP/l from Jan 2014 (Median) to Feb 2025, with 134 observations. The data reached an all-time high of 82.135 PHP/l in Jun 2022 and a record low of 32.960 PHP/l in Feb 2016. Philippines Retail Price: Petroleum: NCR: Common Price: Average: RON 91 data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.P012: Retail Price: Petroleum.

During the 1st half of 2023, the average retail price of one-liter gas in the Philippines amounted to around 1.09 U.S. dollars, reflecting a decrease increase from the previous period. The price of fuel around the world spiked in 2022 as a result of the Russia-Ukraine war.

Have timely access to reliable Fuel Oil price assessments in Philippines:

• Fuel Oil (intermediate), import spot price, cif, Philippines

Each assessment includes Fuel Oil price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

Fuel Oil price assessments for Philippines and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.

Philippines Retail Price: NCR: PP: Diesel Plus: Shell: High data was reported at 76.000 PHP/l in 26 Jan 2023. This stayed constant from the previous number of 76.000 PHP/l for 25 Jan 2023. Philippines Retail Price: NCR: PP: Diesel Plus: Shell: High data is updated daily, averaging 45.470 PHP/l from Jan 2014 (Median) to 26 Jan 2023, with 3287 observations. The data reached an all-time high of 97.700 PHP/l in 04 Jul 2022 and a record low of 23.450 PHP/l in 01 Feb 2016. Philippines Retail Price: NCR: PP: Diesel Plus: Shell: High data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.P016: Retail Price: Petroleum Products in Metro Manila. [COVID-19-IMPACT]

China Retail Price: Gasoline, Number 92: For Vehicle data was reported at 7.500 RMB/l in Dec 2024. This records a decrease from the previous number of 7.530 RMB/l for Nov 2024. China Retail Price: Gasoline, Number 92: For Vehicle data is updated monthly, averaging 7.540 RMB/l from Jul 2019 (Median) to Dec 2024, with 66 observations. The data reached an all-time high of 9.050 RMB/l in Jun 2022 and a record low of 5.480 RMB/l in Apr 2020. China Retail Price: Gasoline, Number 92: For Vehicle data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PH: Gasoline Price: For Vehicle: Retail: Province.

In 2023, shipments abroad of wood fuel increased by 46% to 114 cubic meters for the first time since 2020, thus ending a two-year declining trend.

Price for Liquefied Petroleum Gas (LPG) in the Philippines - 2023. Find the latest marketing data on the IndexBox platform.

The cost of conventional fuel per one hundred kilometers was 9.31 U.S. dollars in Singapore compared to the cost of using electricity, which was 2.79 U.S. dollars per one hundred kilometers as of August 2019. In most Southeast Asian countries cost of conventional fuel is higher than electricity, except in the Philippines, where conventional fuel was over six U.S. dollars against less than three U.S. dollars for electricity per one hundred kilometers.

Philippines Retail Price: NCR: PP: Premium Gasoline: RON95: Petron: High data was reported at 73.500 PHP/l in 26 Jan 2023. This stayed constant from the previous number of 73.500 PHP/l for 25 Jan 2023. Philippines Retail Price: NCR: PP: Premium Gasoline: RON95: Petron: High data is updated daily, averaging 54.810 PHP/l from Sep 2013 (Median) to 26 Jan 2023, with 3407 observations. The data reached an all-time high of 97.900 PHP/l in 27 Jun 2022 and a record low of 37.100 PHP/l in 22 Feb 2016. Philippines Retail Price: NCR: PP: Premium Gasoline: RON95: Petron: High data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.P016: Retail Price: Petroleum Products in Metro Manila. [COVID-19-IMPACT]

Philippines Retail Price: Petroleum: NCR: Common Price: Average: Diesel Plus data was reported at 61.031 PHP/l in Feb 2025. This records a decrease from the previous number of 63.686 PHP/l for Jan 2025. Philippines Retail Price: Petroleum: NCR: Common Price: Average: Diesel Plus data is updated monthly, averaging 47.495 PHP/l from Mar 2017 (Median) to Feb 2025, with 96 observations. The data reached an all-time high of 86.866 PHP/l in Jun 2022 and a record low of 32.654 PHP/l in May 2020. Philippines Retail Price: Petroleum: NCR: Common Price: Average: Diesel Plus data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.P012: Retail Price: Petroleum.

Philippines Retail Price: NCR: PP: Regular Gasoline: RON91: Shell: High data was reported at 72.900 PHP/l in 26 Jan 2023. This stayed constant from the previous number of 72.900 PHP/l for 25 Jan 2023. Philippines Retail Price: NCR: PP: Regular Gasoline: RON91: Shell: High data is updated daily, averaging 53.900 PHP/l from Sep 2013 (Median) to 26 Jan 2023, with 3407 observations. The data reached an all-time high of 93.420 PHP/l in 30 May 2022 and a record low of 35.650 PHP/l in 22 Feb 2016. Philippines Retail Price: NCR: PP: Regular Gasoline: RON91: Shell: High data remains active status in CEIC and is reported by Department of Energy. The data is categorized under Global Database’s Philippines – Table PH.P016: Retail Price: Petroleum Products in Metro Manila. [COVID-19-IMPACT]

Price for Crude Oil and Processed Petroleum in the Philippines - 2023. Find the latest marketing data on the IndexBox platform.

For the fourth consecutive year, the Philippines recorded growth in overseas purchases of oil or petrol-filters for internal combustion engines, which increased by 36% to 14M units in 2023.