Diesel, Kerosene Rollback Expected; Gasoline Prices to Rise Next Week

Filipino motorists are set to experience another mixed movement in fuel prices next week, with gasoline prices expected to rise for the third consecutive week, while diesel and kerosene prices are likely to be rolled back for the second straight week.

Projected Fuel Price Adjustments

Based on international trading trends from the past four days, the Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero shared the following estimated price adjustments per liter:

• Gasoline: Increase of ₱0.10 to ₱0.30
• Diesel: Rollback of ₱0.40 to ₱0.70
• Kerosene: Rollback of ₱0.40 to ₱0.60

Jetti Petroleum provided a similar forecast, anticipating a ₱0.30 to ₱0.40 increase in gasoline prices and a ₱0.40 to ₱0.50 rollback for diesel.

Factors Driving the Changes

Reasons for Gasoline Price Hike:

• Ongoing geopolitical tensions in the Middle East, including recent strikes between Israel and Hezbollah.
• OPEC+ delaying output increases.

Reasons for Diesel and Kerosene Price Rollback:

• A bearish demand outlook for 2025, particularly from top importer China.
• Strengthening of the US dollar and former President Trump’s pledge to increase drilling.

Recent Price Adjustments

This past Tuesday, December 3, oil firms increased gasoline prices by ₱0.90 per liter while rolling back diesel by ₱0.20 and kerosene by ₱0.40 per liter.

Fuel companies typically announce price adjustments every Monday, which take effect the following day.