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Manila Bulletin devider Business devider The Economy devider Another round of diesel price hike expected next week

Another round of diesel price hike expected next week

Published Jul 25, 2025 09:49 am
At a Quezon City gas station, a pump attendant fills a car's fuel tank. This week, the cost of petroleum products has risen, a direct result of escalating geopolitical tensions in the Middle East.
At a Quezon City gas station, a pump attendant fills a car's fuel tank. This week, the cost of petroleum products has risen, a direct result of escalating geopolitical tensions in the Middle East.
Global supply concerns, including an unexpected drop in United States (US) crude inventories and the lingering effects of sanctions on Russia, are set to drive up diesel and kerosene prices next week, while gasoline costs may see a modest decrease.
Based on the four-day Mean of Platts Singapore (MOPS) and the foreign exchange average, gasoline prices may decrease by ₱0.10 to ₱0.30 per liter, while diesel is expected to increase by ₱0.40 to ₱0.60 per liter.
Kerosene could also move up to more or less ₱0.30 per liter.
The sudden drop in crude inventories in the US, coupled with sanctions on Russia, is expected to influence next week’s price movements, according to the Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB) and Jetti Petroleum.
Rodela Romero, OIMB director, stated that there is an “unexpected decline in US crude inventories, reinforcing signs of strong refinery activity.”
The shaky trade policies of the US also factored into the upcoming price adjustments.
Jetti president Leo Bellas further explained that the decline in US crude oil and gasoline stockpiles signaled a higher demand for fuel.
“Sentiments have improved following a trade deal between the US and Japan, providing optimism on other trade negotiations,” he said.
Earlier this week, the EU sanctions on Russia sparked concerns about oil supply; however, this threat eased as Russia doubted the effect of these limitations.
“Oil prices were buoyed earlier this week by concerns of tightening supplies following new EU sanctions on Russia and the announcement that the US would consider sanctioning Russian oil to end the war in Ukraine, but have since weakened due to expectations that the new sanctions will have minimal impact on supplies,” Bellas added.
He noted, however, that if the new sanctions on Russia are implemented, they could have severe effects on the market given that the country is a key global supplier of diesel and gasoline.
Meanwhile, diesel prices may remain higher in the coming days due to tighter supply and high demand.
“Diesel price remained supported by tighter regional availability and firm demand. Outlook remains delicately balanced between supportive fundamentals and mounting macro uncertainties,” he said.
ING Economics, on the other hand, reported a potential easing of tight supply for U.S. refiners following the U.S. government's decision to allow petroleum company Chevron to resume operations in Venezuela.

Related Tags

Department of Energy (DOE) Oil price hike Oil price rollback
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