One thing to look forward to, aside from the New Year, is the expected reduction in fuel prices next week.
Department of Energy – Oil Industry Management Bureau assistant director Rodela Romero announced that “there will be an expected rollback in domestic pump prices”.
“This estimated adjustment is triggered by the IEA’s (International Energy Agency) continued expectation of an oversupplied oil market in 2025 even if OPEC+ (Organization of the Petroleum Exporting Countries Plus) holds production steady or continues to delay the unwinding of its voluntary production cuts,” Romero said.
The estimated rollbacks are as follows:
- Gasoline: P0.30 to P0.65 per liter
- Diesel: P0.30 to P0.55 per liter
- Kerosene: P0.80 to P0.90 per liter
Romero added that these price adjustments will depend on the results of Friday’s trading, with the final petroleum product prices to be announced on Monday and taking effect on Tuesday.
On December 24, prices for petroleum products increased. Gasoline rose by P0.50, diesel by P1.45, and kerosene by P0.75.
Throughout the year, gasoline and diesel prices saw net increases of P13.05 and P11.30 per liter, respectively. In contrast, kerosene saw a net decrease of P1.80 per liter.
Currently, the price of petroleum products in Metro Manila ranges from P51.35 to P74.42 per liter for gasoline, P49.00 to P65.79 per liter for diesel, and P61.98 to P80.94 per liter for kerosene, according to the DOE’s price monitoring reports.
As of lately, the prices of petroleum products in the Metro ranges from P51.35 to P74.42 for gasoline, diesel at P49 to P65.79 per liter, and kerosene from P61.98 to P80.94 per liter, according to the DOE’s price monitoring reports.
