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Manila Bulletin devider Business devider The Economy devider Fuel prices seen to rise again next week

Fuel prices seen to rise again next week

Published Jul 18, 2025 09:56 am  |  Updated Jul 18, 2025 01:04 pm
Driven by rising demand and tightening supply, oil prices are expected to rise again next week.
Based on the four-day Mean of Platts Singapore (MOPS) and the forex average, gasoline could go up somewhere between ₱0.30 and ₱0.50 per liter, while diesel may increase by ₱0.70 to ₱0.90 per liter.
Kerosene is also seen to go up by more or less ₱0.50 per liter.
The Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB) attributed these price increases to the ongoing tariff policies from the United States, alongside speculations on the current oil demand growth.
“OPEC [Organization of the Petroleum Exporting Countries] holds steady on old demand growth forecasts, and [there is] speculation that President [Donald] Trump’s tariff policies will slow global economic growth and energy demand,” said Rodela Romero, OIMB director.
Jetti Petroleum cited expectations that trade tensions may ease and supply risks could diminish by the second half of the year.
“The positive oil demand outlook in the second half of 2025, the prospect of easing of trade tensions, and the risk to supply in the Middle East following attacks in the oilfields in Iraq have further supported the market,” said Leo Bellas, Jetti president.
“Early this week, oil prices jumped significantly due to concerns that direct sanctions on Russia could disrupt crude oil flows. However, the milder stance by the US on sanctions over Russian oil has eased the fears of a supply crunch.”
He also noted that the peso’s depreciation against the US dollar could affect next week’s oil prices. Meanwhile, freight and premium levels remain elevated due to supply disruptions following recent attacks in the Red Sea, a key global shipping route.

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Oil price hike Department of Energy (DOE)
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