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Manila Bulletin devider Business devider The Economy devider Gasoline, diesel prices set to increase next week

Gasoline, diesel prices set to increase next week

Published Aug 22, 2025 09:48 am
Higher oil demand and ongoing geopolitical tensions are raising concerns about a potential fuel price spike in the final week of August.
Based on the four-day trading average from the Mean of Platts Singapore (MOPS), gasoline prices could increase by ₱0.40 to ₱0.50 per liter. Diesel may also rise by ₱0.20 to ₱0.40 per liter, while kerosene is expected to increase by ₱0.10 per liter.
The Department of Energy's (DOE) Oil Industry Management Bureau (OIMB) attributed these anticipated changes to strong refinery demand, which has decreased supply.
Rodela Romero, OIMB director, noted a “decline in the United States (US) oil stock for the week ending Aug. 15, pointing to stronger refinery demand.”
In addition to pressure on fuel stocks, Jetti Petroleum cites geopolitical uncertainty as a factor.
Initial hopes for peace talks between Russia and Ukraine have stalled, and the lack of progress continues to push oil prices higher due to supply concerns.
Jetti President Leo Bellas stated that “uncertainty over the Ukraine peace talks has lifted oil prices due to growing concerns that tighter Western sanctions on Russia and additional US sanctions and tariffs on Russian oil buyers will disrupt supply flows.”
Elevated freight and premium costs are also a factor, driven by the ongoing Russia-Ukraine conflict and tensions between Iran and Israel.
Despite the expected price increases, the government is still considering the integration of cleaner fuels.
Earlier this year, the DOE, through the National Biofuels Board (NBB), temporarily suspended a planned increase in the biodiesel blend from two percent to four percent, which was originally set for October. The plan is to increase it to five percent by October 2026.
However, demand for cleaner fuel is expected to rise once the temporary suspension is lifted. In anticipation of this growth, Chemrez Technologies, Inc. (CTI) has announced plans to develop a second biodiesel plant.

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Oil price hike Department of Energy (DOE)
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