Motorists and businesses can expect mixed movements in fuel prices starting Tuesday, as oil firms, including Jetti Petroleum Inc., announce adjustments that reflect recent global supply and demand developments.
According to Jetti president Leo Bellas, gasoline prices will see a slight rollback of P0.10 to P0.30 per liter, while diesel will rise by P0.40 to P0.60 per liter. These changes are based on last week’s full five-day crude oil trading data.
Bellas cited supply concerns stemming from new European Union sanctions against Russia, alongside improved global demand projections following a finalized U.S.-Japan trade deal, as key drivers behind the adjustments. He added that while the U.S. has hinted at fresh sanctions on Russian oil, these had only a limited effect on global supply last week.
“Sentiments have improved following a trade deal between the US and Japan, providing optimism on other trade negotiations,” Bellas said. “Signs of improving demand following the large decline in U.S. crude oil and gasoline stockpiles have also supported oil prices.”
The price hike in diesel is attributed to tight regional availability and steady demand, while the gasoline rollback reflects softening demand indicated by rising inventories in major trading hubs, Jetti noted.
These adjustments come on the heels of successive fuel price hikes in the last two weeks, which saw total increases of P1.10 per liter for gasoline, P2.50 for diesel, and P1.50 for kerosene.
As of 15–21 July, Department of Energy data shows pump prices in Metro Manila averaging P53.10 per liter for RON 91 gasoline, P54.60 for diesel, and P72.80 for kerosene. Thus far this year, fuel prices have seen net increases of P9.40 per liter for gasoline, P12.45 per liter for diesel, and P2.55 per liter for kerosene.
The mixed fuel price movement underscores growing concerns for both households and transport-reliant businesses, as diesel hikes could further pressure logistics and public transport costs despite the slight gasoline relief.
