Motorists can expect lower fuel prices next week, just in time for New Year’s Eve.
The Department of Energy (DOE) estimated the following price rollbacks per liter:
- Gasoline: ₱0.30–₱0.65
- Diesel: ₱0.30–₱0.55
- Kerosene: ₱0.80–₱0.90
DOE Assistant Director Rodela Romero attributed the adjustment to the International Energy Agency's (IEA) forecast of an oversupplied oil market in 2025, despite OPEC+ production cuts. Final prices will be confirmed after Friday’s trading.
Price adjustments take effect every Tuesday, with oil firms announcing changes the day prior.
As of December 24, 2024, gasoline prices increased by ₱13.05 per liter year-to-date, diesel by ₱11.30, while kerosene decreased by ₱1.80. Current Metro Manila pump prices range as follows:
- Gasoline: ₱51.35–₱74.42
- Diesel: ₱49.00–₱65.79
- Kerosene: ₱61.98–₱80.94
