Consumers can expect a rollback in pump prices across all fuel products next week due to oversupply concerns despite geopolitical risks.
Oil companies, however, warned the public that worsening geopolitical developments could overturn the bearish global oil market.
Jetti Petroleum estimates diesel to have a rollback of P0.10 to P0.30 per liter, and gasoline holding steady or will have a rollback of up to P0.20 per liter.
This is based on the price movement indication for the week of Jan. 12, 2026 based on this week’s Mean of Platts Singapore (MOPS) movement and foreign exchange average in the first four days of trading versus last week’s full week average.
MOPS is the pricing benchmark for oil importers.
Rodela Romero, director of the Department of Energy’s Oil Industry Management Bureau, confirmed that oil prices are forecast to have a rollback next week of around P0.40 per liter for gasoline, P0.50 per liter for diesel and about P0.25 per liter for kerosene, excluding the oil company’s operating cost and other premiums.
“Both diesel and gasoline MOPS prices have declined this week due to rising availability of refined products and crude oil oversupply concerns, despite geopolitical risks following recent events in Venezuela, increasing tensions between Russia and Ukraine, and heightened worries of a military escalation between US, Israel and Iran,” Jetti Petroleum president Leo Bellas said.
“However, further worsening of geopolitical and policy developments can swiftly overturn the bearish market sentiment and push prices to the upside, potentially reducing or wiping out the potential rollback on domestic prices next week,” he said.
Romero said final adjustments will be determined after Friday’s trading.
“Oil prices edged lower this week as markets weighed the possibility of higher Venezuelan crude output, reinforcing expectations of ample global supply amid weak demand. Likewise, traders monitor OPEC+ policy signals and any attempts to bolster the market,” she said.
