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Manila Bulletin devider Business devider The Economy devider Diesel prices set for rollback next week while gasoline rises

Diesel prices set for rollback next week while gasoline rises

Published May 8, 2026 11:53 am  |  Updated May 8, 2026 02:04 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)
Consumers face a split at the pumps next week as regional market volatility drives a significant decline in diesel prices alongside a projected increase in gasoline.
Based on the first four days of trading under the Mean of Platts Singapore (MOPS) benchmark, diesel prices are expected to drop by ₱6 to ₱8 per liter. Conversely, gasoline prices are estimated to rise by ₱1 to ₱4 per liter, according to industry data and projections from the Department of Energy.
The divergent price movements come as global crude markets navigate resurgence of geopolitical tension. While a recent two-week ceasefire in the Middle East has expired, the focus of traders has shifted toward a United States (US) naval blockade that has reportedly disrupted oil export infrastructure in Iran.
The Department of Energy (DOE) noted that crude remains highly volatile, with supply risks intensifying due to logistical pressures within the Strait of Hormuz, a critical chokepoint for global oil transit.
Despite these supply-side threats, the DOE suggested that broader economic headwinds might prevent prices from spiraling out of control. It indicated that high prices, persistent inflation, and tighter monetary conditions are beginning to weigh on global oil demand, potentially capping further rallies.
In the Asian gasoline market, the projected hike of up to ₱4 per liter may be mitigated by a surge in regional supply. Increased fuel exports from China and India are expected to enter the market, providing a necessary buffer against the upward pressure seen earlier in the week.
The outlook for diesel remains more complex. While regional demand is anticipated to rise despite tightened global supplies, consistent output from India and South Korea has helped stabilize the market.
These two refining hubs have maintained sufficient flow to prevent the type of price spikes seen in previous months, contributing to the substantial rollback expected for Philippine motorists.
On the domestic front, the DOE reported that the national fuel inventory remains robust. Current stocks represent more than 53 days’ worth of supply, nearing the country’s 60-day inventory limit. As a result, the government has suspended all fuel procurement plans for the month of May.
Oil companies typically announce the final price adjustments on Monday, May 11, with the changes taking effect the following morning.

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oil prices fuel diesel Gasoline
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