Motorists could see another significant rollback in fuel prices in the coming week, according to industry estimates.
Based on the full-week Mean of Platts Singapore (MOPS) and foreign exchange movements, an oil industry source said pump prices for both diesel and gasoline are likely to decrease.
Projected price reductions are as follows:
• Diesel: P24.00 to P26.00 per liter
• Gasoline: P2.50 to P3.50 per liter
MOPS reflects the average daily pricing of refined petroleum products traded in Singapore, a key benchmark for oil pricing across Asia.
The Department of Energy (DOE) earlier signaled that another round of price cuts could be implemented next week, reinforcing expectations of a rollback.
According to the source, the anticipated reduction is largely due to easing geopolitical tensions in the Middle East, which has led to a continued decline in the so-called “war premium” embedded in global oil prices. The ceasefire in the region has so far remained in place, helping stabilize supply concerns.
Fuel companies typically announce official price adjustments every Monday, with changes taking effect the following day.
Earlier this week, on April 14, oil firms implemented substantial price cuts: gasoline prices dropped by P4.00 to P6.50 per liter, diesel by P20.00 to P23.00 per liter, and kerosene by P8.50 to P11.50 per liter.
This marks the 15th price adjustment this year, bringing net increases to P50.20 per liter for gasoline, P89.85 per liter for diesel, and P78.70 per liter for kerosene.
