From October to November 18, oil companies in the Philippines increased the prices of petroleum products six times. The seventh price increase has already been announced and will take effect on November 26.

The nonstop increases incurred an additional ₱9.40–₱9.60 per liter for gasoline, ₱13.60 per liter for diesel, and ₱10.70 per liter for kerosene.

From January to mid-November, gasoline prices has already increased by a net amount of ₱19.90 per liter, diesel by ₱24.05, and kerosene by ₱8.65 per liter. On November 10, diesel cost ₱58.03 per liter, up from ₱44.43 per liter during the first week of October.

In collusion with the Department of Energy, oil companies repeatedly blame geopolitical conflicts for rising fuel prices. They also claim a supposed increase in demand along with refinery maintenance, which allegedly limited supply. These reasons remain unverifiable because the computation methods and bases for the increases are not publicized. Oil companies engage in cartel behaviour in raising prices simultaneously.

The rising oil prices worsen the burden of drivers, especially those in public transportation. Even before the latest series of hikes, drivers were already losing up to ₱9,000 per month, according to Piston.

They will lose even more now. A jeepney usually consumes around 30 liters of diesel per day. At the current price of ₱58 per liter, a driver spends ₱1,740 per day, or ₱400–₱450 more for a full day of operations. Drivers incur major losses since their average daily earnings only range from ₱1,200 to ₱1,500.