Consumers can expect mixed oil price movements next week; with diesel probably going up by as much as P0.40 per liter, while gasoline may see a rollback or an increase of up to P0.10 per liter.
Jetti Petroleum president Leo Bellas says the expected price adjustments are dependent on the price movement indication for week of Jan. 5, 2026 based on this week’s Mean of Platts Singapore and foreign exchange average (first 4 days) versus last week’s full week average.
Bellas said that while the average of both diesel and gasoline MOPS prices this week have declined slightly compared to last week as regional refinery output recovered post turnaround, “the freight and premium components of the price buildup remained elevated due to growing concerns that the continuing geopolitical developments could disrupt oil supplies.”
Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, foresees a rollback across all products, including kerosene next week but she said the estimates exclude the operating cost of the oil companies and other premiums.
Romero said gasoline may have a rollback of about P0.50 per liter, diesel by P0.15 and kerosene by P0.20 per liter.
She said geopolitical risk/sentiment, expectations of global oversupply, weak demand expectations in major consumers like China and OPEC+ policy and market balance resulted to global oil prices softening.
On Dec. 30, the oil firms raised the price of diesel and kerosene by P0.60 per liter to reflect the movement of prices in the world oil market. The oil firms did not move gasoline prices.
On Dec. 23, oil firms cut prices across the board: gasoline by P0.80 per liter, diesel by P1.30 per liter, and kerosene by P1.60 per liter.
