Consumers can expect mixed fuel price adjustments this week as oil companies and the Department of Energy (DOE) offer differing forecasts based on recent global trading trends.
Jetti Petroleum Inc. projected a rollback of P0.60 to P0.80 per liter for diesel, while gasoline prices may either remain unchanged or rise by P0.20 per liter, citing a four-day crude trading analysis.
“Diesel price has softened week-on-week, though values remain broadly elevated as several refineries within Asia are still undergoing scheduled turnarounds,” said Jetti President Leo Bellas. He attributed the projected movements to renewed concerns over escalating U.S.-China trade tensions and a potential global crude supply glut in 2025.
“While gasoline price has also dropped, a decrease in regional gasoline inventories in Asia, coupled with firm demand from Indonesia as well as an opportunity to fill the supply gaps in Middle East, Africa and Europe, on the back of refinery maintenances, has put a floor on price benchmarks,” Bellas added.
He further noted that geopolitical risks involving the U.S., Russia, and Ukraine continue to influence global oil markets.
In contrast, DOE Oil Industry Management Bureau director Rodela Romero forecast rollbacks across all fuel products, also based on a four-day trading window. According to Romero, gasoline prices may fall by P0.30 per liter, diesel by P1.10, and kerosene by P0.65.
She cited the latest report from the International Energy Agency, which lowered its global oil demand outlook amid fears of a market surplus.
Last week, oil firms implemented a P0.30 per liter increase for gasoline, a P0.20 per liter cut for kerosene, and no change for diesel.
So far this year, pump prices have posted net increases of P15.20 per liter for gasoline, P17.85 for diesel, and P5.45 for kerosene, DOE data show.
From October 14 to 20, per-liter prices in Metro Manila average P54.30 for RON 91 gasoline, P55.45 for diesel, and P76.74 for kerosene, according to the DOE.
