P8 to P10 per liter rollback in diesel prices seen next week

Motorists should expect another sigh of relief as pump prices of diesel could be slashed again next week, its third straight week of rollback since the series of global oil price shocks due to the Middle East conflict rocked the local fuel market.

Citing estimates based on Mean of Platts Singapore (MOPS) trading and foreign exchange averages in the past four days, an oil industry source said the per liter prices of diesel could be reduced by P8.00 to P10.00.

Gasoline prices, however, are seen to have no movement or a possible increase of P1.00 per liter.

The local oil industry uses MOPS as the basis for fuel retail prices in the country. It is the average of daily price assessments for refined petroleum products (like gasoline and diesel) traded in Singapore, which acts as the regional hub for Asian oil trading.

Fuel firms announce the official pump price adjustments every Monday, to be implemented the following day.

Effective Tuesday, April 21, 2026, oil companies decreased the prices of diesel by P24.00 to P24.95 per liter, gasoline by P3.41 to P4.00 per liter, and kerosene by P2.00 per liter. — AOL, GMA News