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Manila Bulletin devider Business devider The Economy devider Motorists brace for another round of fuel price hike

Motorists brace for another round of fuel price hike

Published Sep 12, 2025 10:06 am
Motorists will need to tighten their belts once more as fuel prices are anticipated to increase for the third week of September.
Based on the four-day trading Mean of Platts Singapore (MOPS), gasoline could go up by ₱0.10 to ₱0.20 per liter, while diesel might increase somewhere between ₱0.30 per liter and ₱0.50 per liter.
If realized, this would mark the fourth consecutive week of price hikes.
These potential movements are driven by geopolitical clashes, effects of tariffs from the United States (U.S.), as well as activities from oil-producing nations.
According to the Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB), oil prices are moving upwards due to the recent attacks by Israel on Qatar, as well as the incursion of Russia into Polish airspace.
These factors raised concerns over supply disruptions.
Apart from potential risks in production movement, OIMB Director Rodela Romero cited other concerns, such as “U.S. tariffs open new trade opportunities for the shipping industry, and OPEC+ raised its production at a lower rate than expected.”
According to a report by the Financial Times, the U.S. has stated its plans to pressure G7 countries—comprising Canada, France, Germany, Italy, Japan, and the United Kingdom—to impose higher tariffs on India and China for purchasing Russian oil.
Meanwhile, OPEC+ is continuously increasing the global supply to lessen the pressure on prices; however, analysts view this as slower than anticipated.
Leo Bellas, Jetti Petroleum president, said Europe’s stronger market is pressuring diesel prices, explaining, “Singapore diesel price continued to mirror the strength in the European market, which drives global diesel demand trade. Expectations of supplies tightening amid upcoming refinery turnarounds continue to support diesel fundamentals as well.”
While he noted that the end of the summer driving season would help ease pressure on gasoline, major refinery maintenance works could be just around the corner to tighten supply.

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