Oil Monitor as of 03 October 2018


WORLD OIL PRICES  (September 24-28, 2018 trading days)

Dubai crude has increased week-on-week by almost US$3.00 per barrel. MOPS gasoline and diesel have also increased, gasoline by around US$2.10 per barrel and diesel by almost US$3.35 per barrel.

Reasons for the Adjustment

Factors affecting crude oil prices:

  • OPEC and its non-OPEC partners gathered in Algiers over the weekend for a meeting of their Joint Ministerial Monitoring Committee, although talk of keeping the market well supplied remained thin on detail.

  • An increase in tensions in the Middle East following an attack on a military parade in Iran Sunday also supported higher market levels. Iranian officials blamed the attack on the US and its allies in the Persian Gulf.
  • At the S&P Global Platts Asia Pacific Petroleum Conference in Singapore, oil traders said that crude prices could rise above $100/b as market uncertainties stack up including sanctions on Iran, Venezuelan production concerns, tighter crude inventories and Saudi spare capacity.

Asian gasoil (diesel) market

  • The Asian gasoil market was steady, with traders saying it continued to see support. "There's a demand pull from the North Asian high sea sector.

  • Market participants attributed the strength to improving fundamentals in the physical gasoil market. Some said it was a combination of tighter supply from Northeast Asia even as demand has remained high.

Asian gasoline market

  • There was little change in fundamentals in the Asian gasoline market mid-week, though the physical benchmark FOB Singapore 92 RON gasoline crack spread against front-month November ICE Brent crude at the Asian close Tuesday, driven by a strong uptick in crude oil prices.

FOREX:  Week-on-week value of Philippine Peso depreciated against the US dollar by P0.15 to 54.23 from P54.08 in previous week.

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Effective 02 October 2018, most of the oil companies implemented a per liter price increase of P1.00 for gasoline, P1.10 for kerosene and P1.35 for diesel.

Year-to-date total adjustments stand at a net increase of P10.40/liter for gasoline, P10.70/liter for diesel and P9.35/liter for kerosene.

As monitored, shown below are the retail prices in Metro Manila beginning October 20, 2018.

Products Price Range Common Price
Gasoline (Ron91)  52.55-61.82 59.00
Gasoline (Ron95)  53.05-63.27 60.50
Gasoline (Ron97)  55.25-66.35 62.00
Diesel 45.65-50.39 48.30
Diesel PLUS 47.35-54.90 51.10
Kerosene 49.82-59.95 53.67
LPG, P/11-kg cylinders 645.85-865.85  

For more information, call the

Department of Energy
Pricing: 840-2187
LPG: 840-2130
Fuels: 840-5669
SMS: (0915) 4469421
Email: oilmonitor@doe.gov.ph
Website: https://www.doe.gov.ph

LPG Price Monitor as of 01 October 2018


LPG Contract Price (CP)

LPG Contract Price (CP), commonly called the “ Saudi CP ” is the primary driver of LPG pricing in the Far East including the Philippines . It is an international price benchmark set at the beginning of each month by Saudi Arabia’s state - owned oil company Saudi Aramco.

Aramco's CPs, which set the price of LPG lifted from the Saudi ports of Yanbu, Ras Tanura and Ju'aymah under term supply contracts, are closely watched by the market as they tend to set a base level for LPG pricing for most markets East of Suez.

The DOE refer to the LPG/Saudi CP and forex monthly average changes in determining/monitoring the price adjustments of LPG in the domestic market. Following the timing of the monthly changes in CP, domestic price of LPG also vary every first day of the month and remain constant through out the whole month.

Like all other petroleum products, the Philippines has no influence over the LPG CP as the country’s domestic requirement is small versus the world demand. For the month of October, LPG Contract Price increased by US$ 30.50/MT to US$ 655.00/MT, from US$ 624.50/MT last month.

International LPG Market Development

  • The October propane CP was slightly above traders' expectations.
  • The October propane CPs extended the recovery seen for August, as demand for Middle Eastern cargoes remained firm as Chinese importers continued to seek alternatives for US cargoes due to higher import tariffs.
  • This is the 7th consecutive increase for the butane CP.

Domestic Prices      

Oil companies increased the price of LPG effective 01 October 2018 by P2.30-2.36/kg or about P25.00/11-kg cylinder. Auto LPG likewise increased by P1.30/liter. As of 01 October 2018, household LPG in Metro Manila ranges from P645.85-P865.85 per 11-kilogram cylinder.

The increases reflect the month-on-month movement in the LPG CP. However, owing to the declaration of a state of calamity in the provinces of Ifugao (Sept.15), Cagayan, Abra, Benguet, Kalinga (Sept.16), Ilocos Norte and Isabela (Sept.18) following the effect of Typhoon Ompong, prices will not be increased in the next 15 days after the proclamation.

Year/Month Domestic Price







550.00-777.00 -0.37


535.00-760.00 -3.15


517.00-742.00 -1.65


523.00-723.00 0.25


541.00-751.00 1.90


582.00-787.00 3.40


580.00-800.00 0.90


599.00-819.00 1.75


620.00-840.00 1.95


645.85-865.85 2.35


For more information, call the Department of Energy:
Pricing: 840-2187
LPG: 840-2130
Fuels: 840-5669
SMS: (0915) 4469421
Email: oilmonitor@doe.gov.ph
Website: www.doe.gov.ph