Fuel prices will see mixed adjustments again this week, driven by shifting global oil prices tied to tensions in the Middle East, according to a local fuel retailer.
Based on last week’s four-day average global trading, gasoline may rise by ₱0.50 to ₱1.00 per liter, while diesel is set to drop by ₱3.50 to ₱4.00 per liter. No forecast was given for kerosene.
Diesel prices fell as supply tightness eased; producers in Northeast Asia secured alternative crude sources, lowering costs for middle distillate fuels. Gasoline, however, stayed costly due to low global inventories. Supplies in Asia keep shrinking amid production cuts, while demand remains high.
World oil prices swung sharply: they first rose on renewed Israel-Iran clashes, then eased when both sides agreed to stop attacks. Prices jumped again after U.S. strikes on Iranian targets and Iran’s announcement it would fully close the Strait of Hormuz—threatening any ship trying to pass. They later calmed after U.S. President Trump called off planned strikes, raising hopes for a peace deal. Analysts warn fast-changing geopolitical news will keep prices volatile.
Last week, prices moved differently: gasoline went down by at least ₱1.70 or up by ₱0.30 per liter. Diesel increased ₱3.77 to ₱5.77, and kerosene rose ₱6.10 to ₱8.10 per liter.
Department of Energy data (June 2–8, 2026) shows average prices in Metro Manila:
- RON 91 gasoline: ₱74.90 per liter
- Diesel: ₱76.20 per liter
- Kerosene: ₱103 per liter
