Diesel prices are expected to increase by ₱1.15 to ₱3.15 per liter next week due to continued volatility in global oil markets caused by tensions in the Middle East and the Russia-Ukraine conflict.
Based on the Mean of Platts Singapore trading, gasoline prices may either decrease by as much as ₱1.70 per liter or slightly increase by up to ₱0.30 per liter.
Industry sources said possible disruptions in Russian diesel exports and China’s restrictions on fuel exports are contributing to unstable fuel prices.
Final pump price adjustments will be determined on Monday, July 6, before implementation by oil companies.
Meanwhile, the Department of Energy is pushing amendments to the Oil Deregulation Act to allow stronger government intervention during energy emergencies and periods of extreme oil price volatility.
Source: PhilNews24 | July 5, 2026
