Fuel price rollback set next week
Credit to Author: Brix Lelis| Date: Sat, 1 Mar 2025 00:00:00 +0800
MANILA, Philippines — After two straight rounds of hikes, pump prices of petroleum products are poised to go down in the coming week.
The Department of Energy has indicated a potential drop of P0.90 to P1.20 per liter for gasoline and diesel and P1.30 to P1.50 per liter for kerosene.
The estimates were based on the four-day trading in the international oil market, as well as the recent global developments this week.
Oil Industry Management Bureau assistant director Rodela Romero linked the estimated adjustments to Korea’s weakening fuel demand and increased refined product inventories in the US.
Yesterday’s trading would determine the final price adjustments, which will be announced on Monday and will take effect the following day.