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Manila Bulletin devider Business devider The Economy devider Motorists face higher diesel costs as gasoline price relief looms

Motorists face higher diesel costs as gasoline price relief looms

Published Nov 21, 2025 10:02 am
Diesel and kerosene prices are set for another increase next week, while gasoline is expected to remain steady or see a slight rollback, based on four-day trading averages.
Diesel costs could rise by ₱0.80 to ₱1 per liter, while kerosene may see a sharper increase of about ₱1.35$per liter, according to pricing based on the Mean of Platts Singapore (MOPS) index. Gasoline, however, may be flat or drop by $text{₱}0.10$ per liter.
The Department of Energy's (DOE) Oil Industry Management Bureau (OIMB) and Jetti Petroleum attributed the possible gasoline price ease to an oversupply from oil-producing nations.
“There’s an oversupply as signals from OPEC+ and weak global economic indicators, [while there is] modest rebound driven by heightened geopolitical risks, especially due to the sanctions imposed on Russia, Iran, and Venezuela,” said Rodela Romero, OIMB director.
Analysts said supply disruptions caused by geopolitical tensions are the primary factor pushing prices upward for diesel and kerosene toward the last week of November. The United States is set to impose sanctions on Russia's Lukoil and Rosneft starting Friday, Nov. 21, adding to market uncertainty.
Refinery shutdowns and maintenance further contribute to the anticipated increase.
“Middle distillate prices (diesel, jet, kerosene) remained strong on firm fundamentals as concerns over supply tightness continue to persist due to reduced outflows from Northeast Asia amid refinery maintenance and unplanned outages, and persistently limited exports from China,” said Jetti President Leo Bellas.
OPEC+, which includes OPEC members like Saudi Arabia, the UAE, Iraq, Iran, and Venezuela, along with non-OPEC partners, is expected to maintain production despite the oversupply.
Bellas noted, however, that the coming week's fuel prices are unlikely to reach alarming levels, citing weakening Asian gasoline demand and increasing U.S. supply as signals of slower overall consumption.

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