Consumers and business owners face another week of contrasting fuel prices as global supply tensions continue to ripple through local pumps. Gasoline prices are projected to decrease by up to ₱1.00 per liter, offering mild relief to private motorists, while diesel prices are expected to rise significantly by up to ₱3.00 per liter, according to estimates from Jetti Petroleum.
The anticipated shift marks the fourth consecutive week of mixed price adjustments. Based on industry estimates incorporating international market benchmarks and foreign exchange movements, gasoline may drop between 50 centavos and ₱1.00 per liter, while diesel could surge between ₱2.00 and ₱3.00 per liter. This follows previous adjustments authorized by the Department of Energy, which saw gasoline drop by ₱4.30 per liter while diesel increased by ₱2.60 per liter.
For households, the price split creates a mixed financial picture. Drivers of gasoline-powered vehicles will see slight savings during their weekly fill-ups, easing everyday commuting costs. Conversely, the sharp diesel price hike will directly impact public transport operators, family logistics, and households reliant on diesel-powered utility vehicles or backup generators, adding pressure to monthly domestic budgets.
For businesses, the steep diesel hike presents a significant challenge. Diesel powers the majority of commercial transport, freight trucks, agricultural machinery, and industrial logistics. Higher fuel expenses for delivery fleets raise operational costs across supply chains, which could ultimately lead to higher consumer prices for food, basic goods, and everyday services.
The primary driver behind the persistent market volatility is escalating geopolitical tension in the Middle East. Concerns over renewed hostilities between the United States and Iran, along with threats to key energy infrastructure and trade routes in Saudi Arabia, have heightened global supply disruption risks. Beyond pump prices, this sustained energy volatility is dragging down international financial markets and strengthening expectations of aggressive interest rate hikes by central banks worldwide to curb inflation.
Local fuel prices remain substantially higher than their levels prior to the escalation of the Middle East conflict. Department of Energy data from mid-October shows Manila prices averaging ₱87.90 per liter for gasoline, ₱91.40 for diesel, and ₱124.40 for kerosene, compared to earlier baseline rates of ₱53.00 for gasoline, ₱60.79 for diesel, and ₱84.67 for kerosene.
