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Manila Bulletin devider Business devider The Economy devider Diesel prices poised for rollback as Middle East ceasefire eases market pressures

Diesel prices poised for rollback as Middle East ceasefire eases market pressures

Published Apr 10, 2026 12:52 pm  |  Updated Apr 10, 2026 01:51 pm
A gas station attendant refuels a vehicle in Iloilo City on Monday, March 9. While this fuel was purchased at lower rates weeks ago, retailers have raised prices to reflect “replacement costs”—the higher price they must pay to restock inventory amid global supply fears. (Photo by Tara Yap I MB)
A gas station attendant refuels a vehicle in Iloilo City on Monday, March 9. While this fuel was purchased at lower rates weeks ago, retailers have raised prices to reflect “replacement costs”—the higher price they must pay to restock inventory amid global supply fears. (Photo by Tara Yap I MB)

The transport sector, along with motorists, is finally seeing the start of possible fuel price easing after weeks of steep hikes.

Based on the four-day trading average Mean of Platts Singapore (MOPS), diesel could go down by ₱5.50 to ₱6.50 per liter, while gasoline is estimated to hold steady or decrease by ₱1 per liter.

An industry source indicated that the MOPS average for diesel remains lower than in the early days of trading; however, the market is finally reacting to the recently announced Middle Eastern ceasefire.

Once materialized next week, the ₱170-per-liter high for diesel could go down to around ₱164.60 to ₱163.60 per liter, while gasoline prices at the pumps may ease to ₱118.90 per liter.

Final estimates will be determined on Saturday, April 11, while the price movements will take effect on Tuesday, April 14.

The Department of Energy (DOE) signaled new and additional diesel shipments from Singapore and Malaysia slated for delivery on Friday, April 10, while the next shipments, which are sourced from Russia and India, will be delivered sometime next week or mid-month.

Barrels of diesel procured from Oman and Singapore are also scheduled to arrive in the Philippines before the end of April.

These supply procurements are part of the government’s goal to secure an additional 900,000 barrels of diesel this month.

According to the latest data from the DOE, the country has about 47.26 days’ worth of diesel supply, 57.58 days’ worth of gasoline stock, and 106.22 days’ worth of kerosene.

Related Tags

oil prices Diesel Gasoline
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