The prices of gasoline and diesel switch trajectories this week, with both fuels seeing major movement. But diesel’s increase comes as a surprise, given that industry forecasts made last week expected the price of diesel to remain steady.
For the period of October 20 to 26, 2026, the price of diesel will go up by P2.60 per liter, while gasoline prices will decrease by P4.30 per liter. Finally, kerosene will also have a price rollback of P1 per liter.
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This week’s diesel hike was estimated to be as small as P0.50 per liter last week, as indicated by the Mean of Platts Singapore (the regional benchmark for fuel prices in Southeast Asia). However, Alvin Elchico of ABS-CBN reports that rising freight costs have caused the diesel hike to jump much higher than expected.
Meanwhile, this week’s gasoline rollback comes as China resumes exports of refined fuels following the end of the Golden Week holiday. Other supporting factors include refineries in Asia resuming production after maintenance, and an overall lower demand for gasoline in the region.
