Mixed Fuel Price Adjustments Expected Next Week

Motorists could see mixed changes in fuel prices next week, with possible minor adjustments for gasoline, diesel, and kerosene. Based on four days of fuel trading (October 21-24), the Department of Energy-Oil Industry Management Bureau (DOE-OIMB) provided these preliminary estimates:

• Gasoline: Potential rollback or increase of P0.20 per liter
• Diesel: Rollback of P0.10 per liter or increase of up to P0.30 per liter
• Kerosene: Rollback of P0.20 to P0.30 per liter

DOE Assistant Director Rodela Romero attributed the expected rollback to factors like reduced demand in the U.S. and China, an unexpected rise in U.S. fuel stocks, and eased geopolitical tensions due to ongoing Israel-Hamas ceasefire talks. However, an increase in diesel demand in South Korea and concerns over market disruptions tied to Iran’s response in the region could counter these effects and lead to price hikes.

Official adjustments will be announced by fuel companies on Monday for implementation the following day.

In areas under a state of calamity, a 15-day price freeze will be in place for household LPG and kerosene.