A surge in petroleum product prices is set for mid-November.

Shell Pilipinas, Seaoil, Caltex will implement the following price adjustments on Tuesday, 6 AM:

• Gasoline - ₱1.50/L increase
• Diesel - ₱2.10/L increase
• Kerosene - ₱1.20/L increase

PetroGazz, PTT Philippines, Jetti Petroleum will change their prices accordingly at 6 AM as well, save for kerosene, which they do not carry. Cleanfuel will follow suit at 4:01 PM.

According to the Department of Energy (DOE) - Oil Industry Management Bureau, the spike in prices is due to consecutive hurricanes which have hit the Gulf of Mexico, affecting the United States’ oil rigs in the area. Moreover, to mitigate inflation, the US Federal Reserve declared an interest rate cut.