Consumers can expect mixed fuel price adjustments this week, with gasoline set to become cheaper while diesel rates will climb, according to a local fuel retailer. Based on global trading averages from the past week, gasoline prices are projected to fall by P1.50 to P2 per liter, while diesel costs are seen rising by P3 to P3.50 per liter.
The shift is driven by developments in the global oil market. Prices rallied recently amid stalled diplomatic efforts and renewed tensions in the Middle East, including Iran’s threat to close the Strait of Hormuz. With hopes fading for a quick resolution to regional conflicts, concerns have grown over prolonged supply disruptions and faster depletion of global oil stockpiles just as summer demand picks up. These factors have pushed up crude benchmarks and, in turn, prices for diesel and similar fuels.
Gasoline, however, has seen weaker pricing due to higher output from regional refineries and signs of softer demand across parts of Asia. Even so, overall supply in the region remains constrained, and inventories stay low as producers focus more on making middle distillates like diesel. Earlier hopes for lower prices emerged after a ceasefire between Israel and Lebanon, with markets also watching for possible resumption of talks between the United States and Iran.
No forecast was given for kerosene prices. Last week, prices fell sharply: gasoline went down by at least P4.76 per liter, diesel by no less than P9.26 per liter, and kerosene by over P10.86 per liter. Department of Energy data covering May 26 to June 1, 2026, shows average rates in Metro Manila stood at P79.60 per liter for RON 91 gasoline, P82.70 for diesel, and P113.80 for kerosene.
This adjustment directly affects transport, logistics, and household costs, with higher diesel rates likely to raise operating expenses for trucks, public transport, and delivery services, while lower gasoline prices offer some relief to private vehicle owners.
