Consumers can expect a mixed oil price movement next week with diesel and kerosene prices going up while gasoline may go down, if not a possible minimal increase.
Meanwhile, the Land Transportation Franchising and Regulatory Board (LTFRB) has started consolidating all petitions for fare increase, including those of passenger jeepneys that have been pending since August 2023.
Jetti Petroleum president Leo Bellas said this was based on the price movement indication for the week of Nov. 10, 2025 based on this week’s Mean of Platts Singapore and foreign exchange average for the first four days compared to last week’s full week average.
Bellas said diesel prices may increase by P0.50 to P0.70 per liter while gasoline may have a rollback or increase of P0.10 per liter.
“While crude price benchmarks have eased down slightly week-on-week as demand weakened due to significant refinery turnarounds and worries of a potential supply glut, prices of refined fuel products have remained elevated due to supply concerns,” Bellas said.
He said an increase in Singapore diesel price markers reflects tightening supply due to reduced outflows from Northeast Asia amid refinery maintenance shutdowns, with inventories remaining on the lean side for the near term as major regional refiners could potentially reduce output should producers lose access to cheaper Russian crude.
“Global diesel prices remain supported following Western sanctions on Russia, which is a major exporter of the middle distillate,” he said.
Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau said kerosene may increase by around P0.35 per liter.
For his part, LTFRB chairman Vigor Mendoza II said there was a need to address the petitions since initial consultations showed that several public utility vehicles were forced to stop operating as they could not cope with the high operations, cost as well as prohibitive fuel and maintenance costs.
The petitions for fare increase were among the more than 37,000 petitions and motions that remained pending before the LTFRB and were seen as one of the major reasons of the public transportation problems in Metro Manila and other parts of the country.
The LTFRB said Transportation Secretary Giovanni Lopez described the issue as “chaotic and war-like.”
“But we need to balance everything, we need to come up with the best solution that is acceptable both to the PUV sector and the commuters and other stakeholders that will be directly affected by any fare increase,” Mendoza said.
Based on the LTFRB data, five major transport groups filed a petition for fare increase as high as P5 increase in the first four kilometers, or minimum fare, in 2023 and at least P1 for every succeeding kilometer.
Mendoza said they have acknowledged the urgency of the situation due to the series of oil price hikes and the inflation that included the spare parts of vehicles, adding the LTFRB immediately acted but only P1 provisional increase was approved.
Since 2024, several transport groups covering passenger buses and taxis also filed petitions for fare increase, citing the hardships of coping with the meager income for PUVs against the rising fuel price, maintenance and other operational costs.
