Diesel price hike, gas rollback seen next week
Credit to Author: Brix Lelis| Date: Sat, 26 Jul 2025 00:00:00 +0800
MANILA, Philippines — Prices at the pump are expected to move in opposite directions next week, reflecting recent developments in the global oil market.
Initial indications point to potential price hikes of P0.40 to P0.60 per liter for diesel and around P0.30 per liter for kerosene, according to oil industry sources.
A rollback of P0.10 to P0.30 per liter is likely for gasoline prices.
The estimates reflect the trading results over the past four days.
“The wild ride in oil prices was largely driven by geopolitical events and uncertainty surrounding US trade policies,” Oil Industry Management Bureau assistant director Rodela Romero said.
Jetti Petroleum president Leo Bellas, meanwhile, said concerns over tightening supplies have pushed oil prices higher following new sanctions imposed by the European Union on Russia over its war against Ukraine.
Bellas said the implications of the new sanctions, if implemented, could be “severe,” given that Russia is still a key global supplier of gasoline and diesel.
“Diesel prices remained supported by tighter regional availability and firm demand. Outlook remains delicately balanced between supportive fundamentals and mounting macro uncertainties,” he noted.
Yesterday’s trading would determine the final price adjustments, which will be announced on Monday and take effect the following day.