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Manila Bulletin devider Business devider The Economy devider ₱11 per liter diesel cut looming; gasoline prices teeter on no adjustment

₱11 per liter diesel cut looming; gasoline prices teeter on no adjustment

Published Apr 23, 2026 03:18 pm
A motorcycle rider refuels at a station in Quezon City on Tuesday, April 21, following a significant rollback in fuel prices. Oil companies implemented a major price cut this week, ₱24.94 per liter decrease for diesel, while gasoline and kerosene prices were slashed by ₱3.41 and ₱2.00, respectively. (Photo by Santi San Juan I MB)
A motorcycle rider refuels at a station in Quezon City on Tuesday, April 21, following a significant rollback in fuel prices. Oil companies implemented a major price cut this week, ₱24.94 per liter decrease for diesel, while gasoline and kerosene prices were slashed by ₱3.41 and ₱2.00, respectively. (Photo by Santi San Juan I MB)
Diesel prices are set for another substantial reduction next week as regional benchmarks retreat, though renewed Middle Eastern volatility threatens to stall the downward momentum in gasoline prices.
Based on the first three days of trading for the Mean of Platts Singapore (MOPS), the regional pricing benchmark, diesel prices are projected to decline by ₱10 to ₱11 per liter.
However, gasoline prices remain uncertain, with projections indicating either a ₱1-per-liter decline or no adjustment. The discrepancy between the two fuel types is largely attributed to a market correction for gasoline that has lagged behind diesel, coupled with perceived tightness in regional supply that has kept gasoline levels elevated.
Official price adjustments are scheduled to be finalized on Monday, April 27, with changes typically taking effect the following day. These movements occur under the heightened oversight of the Department of Energy, which is currently exercising emergency powers granted under Executive Order No. 110.
The Marcos administration issued the order to allow the state to intervene in fuel pricing, effectively capping adjustments and mandating minimum rollbacks to shield the transport sector and general consumers from extreme price shocks.
Industry analysts attributed the recent price softening to the unwinding of “war premiums” that had previously inflated global energy costs. However, the potential for deeper rollbacks is being countered by renewed volatility in the Middle East.
Recent reports indicated that Iranian forces seized two vessels in the Strait of Hormuz—the Panama-flagged MSC Francesca and the Liberia-flagged Epaminondas—following the imposition of shipping blockades in the strategic waterway.
The seizures have disrupted a fragile two-week ceasefire, reintroducing risk into the market. An industry source noted that while regional benchmarks initially fell, both diesel and gasoline prices saw a rebound in recent trading sessions. T
he source warned that MOPS may continue an upward trajectory through the end of the trading week, potentially limiting the scale of the announced rollbacks.
The DOE continues to monitor the situation closely, emphasizing that under the current energy emergency, oil companies are required to comply with mandated price reductions or face potential prosecution under the Downstream Oil Industry Deregulation Act.

Related Tags

oil prices Rollback Gasoline Diesel
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