Motorists can expect more relief at the pumps, as diesel prices are set to drop by ₱8.00 to ₱10.00 per liter next week—marking the third straight week of reductions. This welcome adjustment follows a period of steep increases in local fuel costs, which were driven by global price fluctuations stemming from the ongoing conflict in the Middle East that pushed rates higher across the region over recent months.
Based on market assessments derived from the Mean of Platts Singapore (MOPS) trading rates and prevailing foreign exchange rates over the last four days, an industry insider estimates that diesel prices may decrease by between ₱8.00 and ₱10.00 per liter. The MOPS index serves as the primary benchmark used in the Philippines to set retail fuel rates, reflecting the average value of refined oil products traded in Singapore, the central trading hub for petroleum supplies throughout Asia.
Unlike diesel, however, gasoline prices are not expected to follow the same downward trend. Current market indicators show that prices for this fuel type will likely remain unchanged or may even see a slight increase of up to ₱1.00 per liter. This divergence in movement highlights how different fuel products are affected by varying global supply and demand factors, even as they are priced using the same regional reference data.
Oil companies traditionally announce official price adjustments every Monday, with the new rates taking effect the following day. Just earlier this week, effective April 21, 2026, firms implemented significant rollbacks, cutting diesel prices by ₱24.00 to ₱24.95 per liter, reducing gasoline costs by ₱3.41 to ₱4.00 per liter, and bringing down kerosene prices by ₱2.00 per liter. The latest projected adjustments signal that the easing trend for key fuel products continues to bring relief to consumers and transport operators alike.
