Fuel Prices Set for Rollback Next Week – DOE

MANILA, Philippines – Motorists can expect lower fuel prices next week as oil retailers prepare for a rollback in gasoline, diesel, and kerosene prices, according to the Department of Energy (DOE).

DOE-Oil Industry Management Bureau Assistant Director Rodela Romero said that based on four-day trading in Mean of Platts Singapore (MOPS), fuel prices are expected to drop by:

✅ Gasoline: ₱0.90 – ₱1.20 per liter
✅ Diesel: ₱0.90 – ₱1.20 per liter
✅ Kerosene: ₱1.30 – ₱1.50 per liter

Factors Behind the Rollback

Romero cited global market trends influencing the price adjustment, including:
🔹 Lower fuel demand in Korea due to reduced tax benefits
🔹 High US refined fuel inventories
🔹 Easing geopolitical risks amid Ukraine-Russia ceasefire progress
🔹 Upcoming US tariffs, which may slow demand

The final price adjustments will be announced on Monday, with the changes taking effect Tuesday, March 4, 2025.

Earlier this week, fuel companies raised prices by ₱0.70 per liter for gasoline, ₱0.40 for diesel, and ₱0.20 for kerosene. Despite the upcoming rollback, year-to-date fuel prices have still seen a net increase of ₱4.75 per liter for gasoline and diesel and ₱2.90 for kerosene.