Gasoline and Diesel Prices Expected to Rise Ahead of Christmas Week

Consumers should prepare for another increase in gasoline, diesel, and kerosene prices next week, according to the Department of Energy’s (DOE) Oil Industry Management Bureau.

Estimated Adjustments

Based on preliminary trading data, Assistant Director Rodela Romero provided the following estimates for pump price hikes:

• Gasoline: ₱0.35 to ₱0.70 increase per liter
• Diesel: ₱1.10 to ₱1.40 increase per liter
• Kerosene: ₱0.90 to ₱1.00 increase per liter

The final adjustments will be confirmed on Monday, December 23, with changes taking effect the following day.

Factors Driving Price Increases

Romero attributed the price hikes to:

• A stronger US dollar.
• Declining US crude oil stockpiles.
• Ongoing conflict in the Middle East.
• Extended production cuts by oil-producing countries, now set to increase output in April 2025.

Impact on Consumers

The adjustments come as Filipinos prepare for holiday travel, potentially straining budgets during the festive season. Official announcements from oil companies will detail the exact adjustments.