Fuel Price Rollback Expected Next Week

Motorists can look forward to a rollback in fuel prices next week, following three consecutive rounds of price hikes in early 2025.

According to the Department of Energy’s Oil Industry Management Bureau (DOE-OIMB) Assistant Director Rodela Romero, the expected price reductions are as follows:

• Gasoline: ₱0.70 to ₱1.00 per liter
• Diesel: ₱0.20 to ₱0.55 per liter
• Kerosene: ₱0.40 to ₱0.50 per liter

These projections are based on recent market developments and international trading trends over the past few days. Romero noted that the expected price cuts are linked to the reopening of refineries and ports in the U.S. Gulf Coast after a winter storm last Wednesday.

Global Economic Factors

The market is also closely monitoring the potential impacts of proposed tariffs from U.S. President Donald Trump, which could influence global economic growth and energy demand.

Final price adjustments will be confirmed after trading on January 24 and once oil companies’ operating expenses are factored in.

Cumulative Impact of Previous Hikes

Before this rollback forecast, data from GMA Integrated News Research revealed that the cumulative price hikes earlier this year had raised fuel costs significantly:

• Gasoline prices increased by ₱3.45 per liter
• Diesel prices went up by ₱5.00 per liter
• Kerosene prices rose by ₱4.30 per liter

Transport Groups’ Concerns

The transport group PISTON criticized the previous fuel price hikes, expressing concern over the increasing financial strain on their members, many of whom are already struggling with the high cost of living.