CONSUMERS can expect a mixed oil price movement next week with diesel increasing by up to P0.50 per liter and gasoline with a possible increase or rollback of P0.10 per liter.
Jetti Petroleum president Leo Bellas said this is based on the price movement indication for the week of Sept. 15, 2025 based on this week’s Mean of Platts Singapore and foreign exchange average for the first four days versus last week’s full week average.
“Singapore diesel price continued to mirror the strength in the European market, which drives global diesel demand trade. Expectations of supplies tightening amid upcoming refinery turnarounds continue to support diesel fundamentals as well,” Bellas said.
He said gasoline demand was easing up as summer driving season comes to a close, but planned maintenance at major refineries was expected to tighten supply.
“While the average price of crude oil this week is still slightly lower compared to last week, prices have been on an uptrend due to concerns that the potential new sanctions on Russia and expansion of secondary tariffs to its major buyers could disrupt Russian crude exports and tighten global supply,” Bellas said.
He said mounting geopolitical tensions after Israel attacked the Hamas leadership in Qatar, as well as Poland’s downing of Russian drones over its airspace have caused oil prices to rise “but gave up most of the gains as there was no immediate threat of oil supply disruption.”
The latest oil output increase from the Organization of Petroleum Exporting Countries and its allies, being smaller than anticipated, also supported prices earlier in the week, Bellas said.
However, oversupply worries and concerns over demand slowing down are putting pressure on prices, he said, which is seen to offset the perceived supply shortage due to a rise in tensions in the Middle East and Ukraine.
Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, confirmed the expected mixed movement, citing several developments in the global market.
She said geopolitical tension brought by Israel’s attack in Doha, Qatar targeting Hamas leaders and the drone incursion of Russia into Poland airspace affected the movement of prices.
Romero said OPEC+ also raised its production at a lower rate than expected.
Last Sept. 9, most oil companies implemented an increase of P1 per liter for gasoline, P1.40 per liter for diesel and P0.70 per liter for kerosene.
Year-to-date total net increase stands at P13.80 per liter for gasoline and P14.85 per liter for diesel. Kerosene has total net increase of P3.45 per liter.
