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Manila Bulletin devider Business devider The Economy devider Fuel price drops anticipated next week

Fuel price drops anticipated next week

Published Dec 12, 2025 09:49 am  |  Updated Dec 12, 2025 01:20 pm
Motorists may get a slight reprieve at the pumps next week as fuel prices show signs of easing from their recent price spikes.
Based on four-day trading average at Mean of Platts Singapore (MOPS), diesel could go down somewhere between ₱0.10 and ₱0.30 per liter, while kerosene is also seen to decline by more or less ₱0.65 per liter.
Gasoline may either see a price drop or an increase of ₱0.10 per liter
These potential price reliefs are likely due to easing geopolitical tensions as well as slight increase in global oil supply, according to the Department of Energy’s Oil Industry Management Bureau (DOE-OIMB).
“Oil prices eased as investors shifted focus back to Russia-Ukraine peace talks,” said DOE-OIMB Director Rodela Romero.
A recent report by CNN stated that Ukraine has confirmed the United States (US)-crafted proposal to end the war with Russia is beginning to take shape, although the deal remains uncertain.
Apart from the optimistic geopolitical outlook, oil prices have slipped two percent last Monday, Dec. 8. Romero explained that this was “after Iraq restored production in one of its oilfields, which accounts for 0.5 percent of world oil supply.”
Jetti Petroleum president Leo Bellas said future supply may further rise due to Chinese production.
“Asian price benchmarks have softened as supply expectations rise, with potential heavier outflows from China, and as refineries return from turnaround,” Bellas added.
Furthermore, the US Energy Information Administration (EIA) reported this week that gasoline inventories rose by 2.5 million barrels, while distillate stockpiles also increased.
This week, diesel and kerosene saw no change in their prices, while gasoline prices increased by ₱1.20 per liter.
2026 outlook
According to a Dec. 11 research briefing from think tank Oxford Economics, global gas supply could grow by 1.4 percent next year, as output from North America and Middle East could increase, with further contributions from Asia-Pacific and North Sea.
Global demand for gas could also inch up by 1.4 percent in 2026, as most of this increase could come from Asia, said Oxford Economics economist Jack Reid.
However, the think tank noted that if production from the US falls behind, it could affect domestic and export markets.
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