Gasoline up, diesel down this week

Motorists will face sharply different fuel price movements this week, with gasoline expected to rise by as much as ₱1.80 per liter while diesel prices could drop by up to ₱0.80.

Jetti Petroleum president Leo Bellas said gasoline prices could increase by ₱1.50 to ₱1.80 per liter beginning Tuesday, based on movements in the Asian oil market and foreign exchange rates.

Diesel prices, meanwhile, are projected to decline by ₱0.50 to ₱0.80 per liter, providing temporary relief to diesel-dependent motorists, particularly those in the public transport sector.

“Concerns over global oil supply continue to influence prices, particularly amid developments in the Middle East,” Bellas said.

“Supply from the region has recovered, but stalled US-Iran peace talks and renewed attacks in the Strait of Hormuz have fueled concerns over possible disruptions,” he added.

Bellas said supply concerns have also intensified following China’s suspension of exports beyond Hong Kong and Macau.

Refinery damage in the Middle East and Russia has likewise affected available global supplies, adding pressure to international oil markets.

The projected gasoline increase would more than offset the ₱0.30-per-liter rollback implemented this week, potentially pushing pump prices higher again as global oil market volatility persists. TRACY CABRERA