The country’s oil firms are expected to rollback pump prices by over P1 per liter next week to reflect the movement of prices in the world oil market
Diesel is expected to have a price rollback of P1 to P1.20 per liter and diesel by P0.60 to P0.80 per liter.
“Oversupply concerns have cause oil prices to decline as the prospect of Russia-Ukraine ceasefire could lead to eventual restoration of disrupted Russian supply flows,” Jetti Petroleum president Leo Bellas said.
He said that the forecast is based on the price movement indication for week of Dec. 22, 2025 on this week’s Mean of Platts Singapore and foreign exchange average (first 4 days) versus last week’s full week average.
Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau said kerosene is also expected to have a rollback of over P1 per liter.
“The bearish theme dominated all week is attributed with robust supply and weak demand overshadowing temporary geopolitical spikes. Added to it, is an optimism over a peace agreement between Russia and Ukraine,” Romero said.
Bellas said the easing of concerns over tight supply as refineries return from turnaround following maintenance weighed on refined fuel products prices this week.
“Furthermore, the prospect of increased exports from China as refineries are set to boost refinery runs following the renewal of crude import quota and expectations of weaker global gasoline demand through the winter season are the major factors for this week’s price decline,” he said.
On Dec. 16, the oil firms increased the price of gasoline by P0.20 per liter but cut the price of diesel and kerosene by P0.20 per liter.
