ADJUSTMENTS. An oil firm attendant refuels a vehicle in this undated photo. Jetti Petroleum President Leo Bellas on Friday (Sept. 26, 2025) said the prices of gasoline may likely be slashed next week, but diesel prices are expected to rise. (PNA file photo)
Published on
:
Sep 26, 2025, 5:54 am
MANILA – Prices of gasoline may likely be slashed next week, but diesel prices are seen to rise further, according to an oil company official.
In a statement on Friday, Jetti Petroleum President Leo Bellas said gasoline prices may be reduced by PHP0.50 to PHP0.70 per liter next week.
In contrast, diesel prices are expected to increase between PHP0.30 and PHP0.50 per liter.
“Easing gasoline price reflected the ample supply situation in Asia, with supply likely to outpace demand following the release of China’s third batch of clean export quota volumes. Rising stockpile inventories of gasoline in the region have also pressured prices as exports are expected to be capped as the summer driving season draws to a close,” he said.
Bellas also noted that weakening of the Philippine peso against the US dollar this week, with the local currency closing on Thursday at 58-level, “resulted in a larger potential price increase on diesel and reduced rollback on gasoline.”
He, on the other hand, traced the forecast for sustained rise in diesel prices to a significant rebound of the benchmark price in the past two days “due to worries of tightening market, compounded by concerns that Ukraine’s intensified drone attacks on Russian energy infrastructure and renewed Western efforts to curb Russian oil and gas flows could disrupt supplies.”
He said “Russia’s recent announcement of a partial ban on diesel exports and extension of an existing ban on gasoline exports” are additional factors on the expectations for sustained diesel price hikes.
“Diesel is also supported by stabilizing industrial activity in Europe and increased demand for harvest season in the US. Worries that the ongoing supply risks could disrupt product flows and affect supply in Asia have also lent support to diesel price,” he added. (PNA)
https://www.sunstar.com.ph/pampanga/local-news/gasoline-price-cut-possible-next-week-says-oil-firm-exec
