Consumers and business operators across the Philippines can expect mixed relief at the pumps this week, highlighted by a substantial price drop for gasoline products alongside steady to slightly higher diesel rates.
According to Jetti Petroleum President Leo Bellas, gasoline prices are projected to plunge by ₱5.30 to ₱5.50 per liter. In contrast, diesel prices are anticipated to remain unchanged or experience a minor bump of up to ₱0.20 per liter. Bellas did not offer an outlook for kerosene products.
The drop in gasoline prices stems from a combination of global developments that have eased near-term supply pressures. Member countries of the International Energy Agency recently announced emergency stock releases, while a diesel agreement between the United States and Russia and China’s decision to re-authorize refined product exports for October have added much-needed supply to global markets. Furthermore, weakening Asian demand, improving supply availability, and a larger-than-expected build in US gasoline inventories have exerted strong downward pressure on global fuel benchmarks.
Despite these price rollbacks, volatility remains high as underlying international crude benchmarks continue to face upward strain. Brent crude briefly breached $110 per barrel, driven by ongoing geopolitical tensions in the Middle East that threaten global oil transport routes and market stability.
This week’s expected movements follow mixed adjustments approved by the Department of Energy last week, when pump prices increased by ₱1.56 per liter for gasoline and ₱1.77 for kerosene, while diesel fell by ₱3.01 per liter. Recent DOE figures for October 6 to 12 show the National Capital Region retail prices averaging ₱88.30 per liter for RON 91 gasoline, ₱93.70 for diesel, and ₱122.70 for kerosene. These levels remain significantly elevated compared to pre-conflict averages recorded in early March, when gasoline traded near ₱53.00, diesel at ₱60.79, and kerosene at ₱84.67 per liter.
For households, the incoming gasoline price reduction provides immediate financial breathing room, lowering daily commuting costs and household fuel expenses. For small enterprises, logistics firms, and public transport operators reliant on gasoline fleets, the rollback directly trims operating expenses. However, because commercial freight, heavy transport, and agriculture rely heavily on diesel, the stagnant or slightly higher price of diesel means overall food and freight transport expenses will likely remain firm, keeping pressure on broader consumer prices.
