Another Oil Price Rollback Looms on November 17 — Diesel Could Drop by ₱4 to ₱5 Per Liter
OIL PRICE ROLLBACK NOVEMBER 17, 2026 – Motorists may get a second straight week of relief at the pump. Based on the first four days of trading this week, diesel prices could go down by ₱4 to ₱5 per liter while gasoline may drop by ₱3 to ₱4 per liter on Tuesday, November 17, according to estimates from Jetti Petroleum president Leo Bellas reported by Inquirer.net and The Philippine Star.
The Department of Energy (DOE) has a similar forecast. Its latest estimates, as reported by DZRH News, point to a cut of around ₱3 per liter for gasoline, ₱5 per liter for diesel and as much as ₱6 per liter for kerosene. The DOE said the numbers may still change depending on the result of the last trading day in the international market.
Estimated Fuel Price Rollback for November 17, 2026
| Product | Industry estimate (Jetti Petroleum) | DOE estimate |
|---|---|---|
| Diesel | ₱4.00 to ₱5.00 per liter | around ₱5 per liter |
| Gasoline | ₱3.00 to ₱4.00 per liter | around ₱3 per liter |
| Kerosene | — | up to ₱6 per liter |
The industry estimates are based on the four-day average of the Mean of Platts Singapore (MOPS), the regional benchmark used to price refined petroleum products in Southeast Asia, and on foreign exchange movements. They do not yet include ocean freight and insurance costs.
To give you an idea, if the diesel rollback ends up at ₱4 to ₱5 per liter, filling up a 40-liter tank would cost around ₱160 to ₱200 less than this week. The final amounts will depend on the official price advisories.
Why Are Oil Prices Going Down Again?
Bellas said diplomatic developments continued to pull oil prices down this week, even though supply risks have not gone away. “Diplomatic headlines continue to push oil prices lower this week despite lingering supply risks,” he was quoted as saying.
Here are the main factors behind the movement of oil prices this week:
- Hopes for diplomacy – Prospects of talks to end the Middle East conflict between the United States and Iran continue to lower the risk premium on crude oil.
- US midterm election results – Markets reacted to the results of the recent US midterm elections, which fueled expectations of less military escalation.
- Supply risks remain – Attacks on Saudi energy facilities and threats to shipping through the Strait of Hormuz caused prices to rebound at some point this week, which is why a double-digit cut like last week’s is less likely.
According to Manila Bulletin, global benchmark Brent crude jumped by 3.3% to $95.82 per barrel on Thursday, November 12, from $92.76 a day earlier, due to concerns over threatened oil flows.
Second Straight Week of Rollback
If pushed through, this will be the second straight week of lower pump prices. Based on the DOE’s announcement, prices for November 10 to 16 went down by the following:
- Gasoline – down ₱16.80 per liter
- Diesel – down ₱4.10 per liter
- Kerosene – down ₱3.70 per liter
Even after that big cut, pump prices remain high. Prices monitored by DZRH News at several gas stations ranged from ₱72 to ₱83 per liter for gasoline and ₱89 to ₱92 per liter for diesel. The DOE also said the country had an estimated 50.33 days of total petroleum supply as of November 6, 2026.
When Will the Official Prices Be Announced?
The DOE and oil companies are expected to announce the final price adjustments on Monday, November 16, and the new pump prices will take effect on Tuesday, November 17. Prices may also vary depending on the location and the gas station.
Will you wait until Tuesday before filling up your tank? You may also read: DOE Announces Big-Time Oil Price Rollback on November 10, 2026 (Tuesday); Gasoline Down P16.80.
