Motorists, small businesses and households are bracing for a fifth consecutive week of split fuel price changes, with local fuel players projecting higher gasoline costs but cheaper diesel for the coming week. Leo Bellas, president of Jetti Petroleum, said Sunday that gasoline is seen rising by P2.00‑P2.20 per liter, while diesel may drop by P0.80‑P1.00 per liter. These estimated adjustments take into account the previous week’s Mean of Platts Singapore rates and average peso‑dollar exchange movements.
Bellas explained that diesel costs have eased on improved supply prospects, helped by inventory releases plus higher Chinese and Russian diesel exports. Gasoline, meanwhile, stays in tight supply across Asia even with new Chinese export quotas, as expensive crude imports make regional refining more costly. Global oil prices have also bounced back amid supply worries, with markets watching closely for possible wider conflict in Iran‑related tensions following recent United States midterm elections. Reuters reported that by last Friday, December Brent crude futures closed 2.4 % higher at $117.64 a barrel, while US West Texas Intermediate crude rose $2.08 to $104.12 per barrel. The uptick also came after a tanker was hit by limpet devices in the Strait of Hormuz — the first such successful attack since the current conflict started last February.
Just last week, the Department of Energy approved fuel firms’ adjustments that cut gasoline prices by P0.30 per liter but raised diesel by P1.20 per liter and kerosene by P0.50 per liter. Latest DOE data for October 20‑26, 2026 shows average NCR pump prices stood at P81.70 per liter for RON 91 gasoline, P93.30 for diesel and P123.40 for kerosene — a sharp jump from pre‑conflict levels recorded February 24‑March 2, when averages were P53 for RON 91 gasoline, P60.79 for diesel and P84.67 for kerosene.
For households and commuters, the gasoline hike means higher costs for private vehicle trips and regular daily travel, which could also push up prices for small‑scale delivery and transport services. The drop in diesel offers some relief for truckers, bus operators and businesses that rely on freight and heavy transport, though this comes only partially offsetting the large diesel increases seen in recent weeks. Analysts note that global tensions and crude market volatility will likely keep fuel costs unpredictable for consumers and businesses in the weeks ahead.
