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

Fuel prices set to rise next week

Published Oct 24, 2025 10:15 am
After a short break from rising costs, motorists should get ready for another jump in oil prices next week, as new global problems and sanctions on Russian oil push up the cost of crude.
Based on the four-day trading average of Mean of Platts Singapore (MOPS), diesel could get an increase of around ₱0.80 to ₱1.40 per liter, while gasoline could go up by ₱0.30 to ₱0.80 per liter.
Kerosene is also expected to inch up more or less ₱0.80 per liter.
Oil supply disruptions, coupled with ongoing geopolitical tensions, remain key factors expected to influence next week’s price movements, according to analysts from the Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB) and Jetti Petroleum.
“Stronger refinery demand contributed to a counter-seasonal US (United States) crude oil inventory draw, [and] oil soars on prospects of new US sanctions to Russian oil companies over war with Ukraine, as announced by [US] president Donald Trump yesterday,” said Rodela Romero, OIMB director.
The US rolled out new penalties against Russia earlier this week, singling out major oil producers Rosneft and Lukoil amid the ongoing conflict in Ukraine. The move sent global oil benchmarks climbing by around five percent, which marks their highest level in two weeks, and could drive China and India to scale back their purchases of Russian crude.
With the halt in buying oil from Russia, these countries will now have to seek alternative sources of supply, while Russian oil may see a tighter flow.
“This could force buyers of Russian oil to reroute volumes to other sources, causing major disruptions in supply flows,” said Jetti president Leo Bellas.
This week, diesel-based motorists finally experienced a reprieve from the rising oil prices; however, once the new sanctions take effect, it could disrupt the global oil market.

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Oil price hike Department of Energy (DOE)
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