Gasoline prices may ease; diesel and kerosene still rising

Gasoline prices could soften next week after several straight weeks of increases, while diesel and kerosene are expected to continue climbing, industry officials said.

In a text message on Friday, Rodela Romero, Director at the Department of Energy Oil and Industry Management Bureau, said gasoline is seen potentially rolling back by around P0.45 per liter, offering slight relief after consecutive weeks of hikes.

Diesel and kerosene, however, are expected to edge higher, with modest increases of roughly P0.05 and P0.10 per liter, respectively.

“Global oil prices were shaped by a combination of geopolitical tensions, supply expectations, inventory movements, and market sentiment. But the expected adjustments for next week were heavily influenced by heightened geopolitical risks between the United States and Iran, and Russia and Ukraine,” Romero said.

Romero noted that US-Iran nuclear negotiations and rising tensions in Eastern Europe, including a Ukrainian drone strike on a Russian Black Sea port, have added concerns over potential supply disruptions.

Meanwhile, Jetti Petroleum President Leo Bellas said weekly pump price indications and foreign exchange averages also point to a mixed outlook.

Gasoline is projected to remain relatively flat, with only minimal movement of up to P0.10 per liter, while diesel is likely to rise more noticeably, in the range of P0.40 to P0.60 per liter.

“While this week’s gasoline MOPS prices have actually softened due to healthy regional inventories and supply, rising freight and premium due to geopolitical risks have offset the prospect of a potential price rollback,” Bellas said.

“Helping temper the potential increase in domestic prices this week is the stronger peso against the US dollar,” he added.

This week, gasoline prices increased by P1.20 per liter, while diesel and kerosene both rose by P0.60 per liter. Final adjustments will be announced by fuel retailers on Monday and will take effect Tuesday morning.