Big diesel rollback looms; gasoline hikes unlikely
Fuel prices are expected to move in mixed directions next week, with diesel poised for a significant rollback, while gasoline rates may stay largely unchanged, according to an advisory from Jetti Petroleum president Leo Bellas.
Preliminary computations
Bellas said preliminary computations from the first four trading days of the Mean of Platts Singapore (MOPS) and foreign exchange averages indicate a possible P3.00 to P3.20 per liter reduction in diesel.
Gasoline is projected to register either no movement or a slight uptick of around P0.10 per liter for the week beginning Dec. 1.
He traced the sharp diesel decline to a market correction, as global crude prices eased on renewed optimism over a US-backed push for a ceasefire in Ukraine—an outlook that helped temper earlier concerns over tighter supply.
Although Asian gasoline benchmarks also posted slight declines, Bellas noted that premium and freight charges remain elevated, signaling a “tight supply-demand balance” that continues to limit any substantial price cuts for gasoline.
Oil companies are expected to announce official pump price adjustments early next week.
