A New Year gift awaits motorists this first Tuesday of 2026, as pump prices of petroleum products are expected to move modestly, with gasoline likely to see a slight rollback while diesel could rise.

In a text message on Friday, Rodela Romero, Director at the Oil Industry Management Bureau, said that for the three-day trading period in the Mean of Platts Singapore (MOPS) — with no session held on Thursday — fuel prices are pointing to a rollback.

As such, gasoline may decline by about P0.50 per liter, diesel by roughly P0.15 per liter, and kerosene by around P0.20 per liter.

However, she noted that final adjustments have yet to factor in oil companies’ operating costs and other premiums.

The price adjustment will be confirmed by fuel retailers on Monday and will be implemented the next morning.

Romero cited geopolitical risks, expectations of a global oversupply, weaker demand from major consumers such as China, and OPEC+ policies as the main drivers of these movements.

Echoing the mixed picture, Leo Bellas, president of Jetti Petroleum, Inc., disclosed that figures indicate a slight increase in diesel prices of around P0.20 to P0.40 per liter, while gasoline may move slightly down or up by P0.10 per liter.

“While the average of both diesel and gasoline MOPS prices this week has declined slightly versus last week as regional refinery output recovered post-turnaround, the freight and premium components of the price buildup remained elevated due to growing concerns that the continuing geopolitical developments could disrupt oil supplies,” Bellas said.

This week, or the week toward the New Year, gasoline prices were unchanged while both diesel and kerosene went up by P0.60 per liter.