Fuel Prices Set to Rise Next Week After Recent Rollbacks

Motorists should prepare for higher fuel prices next week, following a recent stretch of rollbacks. According to the Department of Energy (DOE), global trading trends suggest an upward adjustment in the retail prices of petroleum products.

Expected Price Increases Per Liter:

• Gasoline: ₱0.60 to ₱1.00
• Diesel: ₱0.10 to ₱0.50
• Kerosene: ₱0.10 to ₱0.30

Final price adjustments will be confirmed after Friday’s trading closes.

Key Factors Driving the Increase:

• US military strikes on Houthi forces in the Middle East, heightening regional tensions
• China’s new fiscal stimulus measures to boost domestic consumption
• A decline in US fuel inventories, based on recent government data

Fuel companies will announce official price changes on Monday, with implementation set for Tuesday, March 25.

Earlier this week, oil firms slashed prices for diesel by ₱0.20 and kerosene by ₱0.40, while gasoline prices remained unchanged.

Year-to-Date Fuel Price Movement:

• Gasoline: +₱2.15/liter
• Diesel: +₱2.85/liter
• Kerosene: -₱0.70/liter

Stay tuned for Monday’s official announcements to plan accordingly.