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Manila Bulletin devider Business devider The Economy devider Diesel rollbacks end: Local pump prices are surging again

Diesel rollbacks end: Local pump prices are surging again

Published May 15, 2026 11:45 am  |  Updated May 15, 2026 02:11 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)
Motorists face a sharp reversal in fuel price trends next week as escalating geopolitical conflict in the Middle East disrupts global crude markets, threatening to end a brief period of relief at the pumps.
According to calculations based on the Mean of Platts Singapore (MOPS) and recent foreign exchange averages, diesel prices are projected to rise between ₱2 and ₱2.5 per liter.
Gasoline is also expected to maintain its upward trajectory, with a forecasted increase ranging from ₱0.75 to ₱1.25 per liter. These adjustments would terminate a streak of rollbacks for diesel, which had provided some reprieve to the transport sector in recent weeks.
Final adjustments are determined by the Department of Energy (DOE) through its prescription, while oil companies will decide on their final pricing on Monday, May 18.
Diesel prices are headed back up as Middle East tensions reignite global crude markets, according to an industry expert.
“The middle distillate market remains structurally tight as stocks decline further and demand normalizes seasonally, further firming up the price of diesel,” the source said.
Additionally, gasoline prices are unlikely to go down as supply tightness continues to be felt, alongside lesser refinery output.
“Refiners in Asia are forced to process lighter grades of crude, for which refineries are not optimized, due to Middle East crude feedstock shortage.”
Recent reports indicated that China is looking to purchase oil from the United States (US) following its high-level talks. Once confirmed, this could potentially help improve the supply in the Asian market amid shipping concerns in the Middle East.
Meanwhile, Shell Pilipinas recently announced that it is running its ₱5 per liter discount for gasoline products and ₱3 per liter discount for diesel from May 15 to 21. According to the fuel company, this is still subject to minimum purchase requirements.

Related Tags

DOE Fuel prices Diesel Gasoline
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