Fuel prices in the Philippines are set for another set of adjustments starting Tuesday, with gasoline costs expected to rise while diesel and kerosene see price cuts, impacting business operations and household budgets.
Jetti Petroleum Inc. president Leo Bellas announced over the weekend that gasoline prices are seen to increase by P0.50 to P0.70 per liter, while diesel may drop by P0.80 to P1 per liter. Kerosene prices are also expected to decline by around P1 per liter, according to preliminary estimates from the Department of Energy (DOE).
The adjustments reflect global market trends, Bellas explained, citing strong gasoline demand in the U.S. summer driving season, in contrast to slowing diesel demand amid higher inventories and supply. Factors such as rising U.S. crude and diesel stockpiles and ongoing economic shifts — including easing trade tensions between the U.S. and China and expectations of a U.S. interest rate cut — have influenced oil price movements.
DOE Oil Industry Management Bureau Director Rodela Romero confirmed the forecast and emphasized the same market dynamics behind the changes. However, she noted that final adjustments will be based on full five-day global crude trading data.
The price shifts follow last week’s rollbacks of P0.40/liter for gasoline, P1.50 for diesel, and P1.30 for kerosene. Despite the short-term fluctuations, year-to-date figures still show significant net increases: P10.80/liter for gasoline, P12.75 for diesel, and P2.65 for kerosene.
From 5 to 11 August, DOE data show pump prices in Metro Manila averaging P55.30 for RON 91 gasoline, P56 for diesel, and P74.90 for kerosene.
