Fuel prices mixed next week with diesel, kerosene up and gasoline down

Diesel prices are expected to rise by P0.30 to P0.50 per liter and kerosene by P0.40 per liter next week, while gasoline prices may be rolled back by P0.50 to P0.70 per liter.

A Department of Energy (DOE) official attributed the mixed price movements to rising geopolitical risks, including US pressure on European countries to stop buying Russian energy supplies.

This development, along with tariff threats, is making the oil market bullish.

However, additional global oil supplies are anticipated as Iraq resumes oil exports via pipeline to Turkey.

The global market also saw a sharp recovery in crude oil prices due to an unexpected drop in US stockpiles, tightening supply.

Increasing worries of supply disruption due to conflicts and geopolitical tensions have also supported oil prices.