Fuel Prices Set to Drop by Up to ₱1 Next Week

Motorists can expect a fuel price rollback next week, the Department of Energy (DOE) announced on Friday.

Estimated Price Reductions

The DOE-Oil Industry Management Bureau predicts the following price decreases based on four-day international oil market trading:

• Gasoline: ₱0.70 to ₱1.00 per liter
• Diesel: ₱0.65 to ₱0.95 per liter
• Kerosene: ₱0.70 to ₱0.80 per liter

Factors Behind the Rollback

Rodela Romero, DOE-Oil Industry Management Bureau assistant director, cited several reasons for the rollback:

1. OPEC+ lowered its oil demand forecasts for the fourth consecutive time.
2. The US Energy Information Administration reduced its 2025 crude price forecast by $1.53 per barrel, citing potential increases in global oil production.
3. China’s weak economy and continued pessimism among investors about its oil demand.

Oil companies typically announce price adjustments on Mondays, which are implemented the following day.