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Manila Bulletin devider Business devider The Economy devider Big-time fuel rollbacks expected next week

Big-time fuel rollbacks expected next week

Published Jun 27, 2025 09:13 am  |  Updated Jun 27, 2025 01:19 pm
Pump attendants serve motorists in a gasoline station along Commonwealth Avenue in Quezon City on Friday, June 20.
Pump attendants serve motorists in a gasoline station along Commonwealth Avenue in Quezon City on Friday, June 20.
After a week of staggered price hikes at the gas pumps, fuel prices are expected to ease by the first week of July.
Based on the four-day trading Mean of Platts Singapore (MOPS), gasoline is expected to go down by ₱1 to ₱1.40 per liter, while diesel may see a rollback of around ₱1.60 to ₱2.10 per liter.
Kerosene is also projected to drop by ₱2 to ₱2.20 per liter.
The Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB) attributed next week’s potential rollbacks to the recent ceasefire between Iran and Israel, which in turn, could lessen the pressure on the oil supply.
“[The] bearish factor that counterbalances the bullish price last week is the announcement of President Trump of a possible ceasefire between Israel and Iran, thus crude oil future extends their drop,” said Rodela Romero, OIMB director.
Recently, the Brent crude futures stood at $67.73 per barrel, following the easing of geopolitical tensions between the Middle East and the United States (US).
Jetti Petroleum also noted that this could spike more demand in fuel, stating that “The market’s focus returned to fundamentals with the de-escalation of the conflict, with prices recovering from the drop early this week on the back of higher demand.”
Earlier this week, several oil companies staggered their prices to help consumers lessen the impact of oil price hikes, as some implemented a double increase in petroleum products, with one on Tuesday and on Thursday.
The overall increase for gasoline this week stood at ₱3.5 per liter, diesel at ₱5.20 per liter, and kerosene at ₱4.8 per liter.

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