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Manila Bulletin devider Business devider The Economy devider Brace yourselves: Hefty fuel hike next week!

Brace yourselves: Hefty fuel hike next week!

Published Aug 1, 2025 09:56 am  |  Updated Aug 1, 2025 01:23 pm
Motorists will need to brace themselves for the first week of August, as fuel prices are set to rise.
Based on the four-day Mean of Platts Singapore (MOPS), gasoline could see a potential increase of more or less ₱1.50 per liter, while diesel may see a ₱1 spike.
Kerosene, on the other hand, will see a potential spike of around ₱0.80 per liter.
According to the Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB), possible supply disruptions could drive next week’s prices.
Rodela Romero, OIMB director, said that there could be “renewed concerns over supply disruptions following US (United States) President Trump’s sanctions on Russia and Iranian Oil.”
While the US has yet to apply full pressure on the Russian oil sector, the US is planning to propose stricter sanctions, including a possible 100 percent tariff rate on countries that would purchase Russian oil.
“[There’s] hopes of improved economic activity after the US-EU (European Union) trade deal.”
Jetti Petroleum president Leo Bellas noted that there is a shorter supply of diesel, while the US gasoline stocks continue to fall.
“Diesel price continued to strengthen week-on-week as supply tightened, while the bigger-than-expected decline in US gasoline stocks supported the view of a strong driving season and as peak summer demand surges,” Bellas expounded.
The Peso depreciation versus the US dollar has affected next week’s price movements.
“Recently, the tariff threats, news of extension and uncertainty surrounding countries yet to negotiate a trade deal with the US, and the delay in the cutting of interest by the US Federal Reserve have weighed on crude prices,” he added.
Motorists may face another spike in gasoline prices, but liquefied petroleum gas (LPG) products are set for rollbacks this month.
According to Petron, it will implement a ₱2.50 per kilogram rollback, while Solane will reduce prices by ₱2.45/kg.
This means an 11 kg cylinder could see a price slash of around ₱26.95 to ₱27.50.

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Department of Energy (DOE) Oil price hike
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