Mixed fuel price movements seen next week amid easing global oil pressures

Motorists may see mixed fuel price adjustments next week, 10 February, following movements in the Mean of Platts Singapore (MOPS) trading as of yesterday.

Industry estimates indicate a slight rollback for gasoline of around P0.10 per liter, while diesel prices may increase by about P0.30 per liter and kerosene by roughly P0.05 per liter. These projections do not yet include the operating costs of oil companies and other applicable premiums, which may still affect the final pump price adjustments.

The anticipated movements are largely driven by developments in the global oil market, particularly easing geopolitical tensions in the Middle East. Signals of de-escalation between the United States and Iran significantly reduced the geopolitical risk premium previously embedded in oil prices.

Comments by US President Donald Trump that Iran was “seriously talking” with Washington reportedly triggered a sell-off of around $3 per barrel in global oil prices, although earlier tensions near the Strait of Hormuz had pushed prices upward.

Another factor weighing on prices is the expectation of ample global supply, particularly from the United States and other non-OPEC producers, which continues to temper upward pressure on oil benchmarks. In addition, demand for heating fuel has softened as forecasts point to milder winter weather in the US, reducing consumption and further easing prices.

Oil industry players are expected to announce official price adjustments ahead of the scheduled implementation next week.