Fuel price rollback seen next week

Motorists should expect a sigh of relief as pump prices might be slashed by retailers in the coming week.

“We will be expecting a rollback in the prices of petroleum products by next week based on the four-day trading in MOPS (Mean of Platts Singapore) and relevant news of the week,” Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said.

The estimated downward adjustments in fuel prices are as follows:

• Gasoline - rollback of P0.90 to P1.20 per liter 
• Diesel - rollback of P0.90 to P1.20 per liter 
• Kerosene - rollback of P1.30 to P1.50 per liter

The energy official cited the following global developments, which could affect movements in petroleum prices:

• Korea’s sluggish fuel demand due to the lowered tax benefits
• High US refined products inventories
• Easing geopolitical risk due to progress on Ukraine-Russia ceasefire deal
• Upcoming tariffs being imposed by US could slow demand

“Final adjustments would be determined after the last trading today,” Romero said.

Fuel firms usually announce the final per liter adjustments in the retail prices of petroleum products every Monday, which will take effect on the following day.

Effective Tuesday, February 25, 2025, the oil companies implemented an increase of P0.70 per liter for gasoline, P0.40 per liter for diesel, and P0.20 per liter for kerosene.

The latest movements resulted in year-to-date adjustments for both gasoline and diesel of a total net increase of P4.75 per liter, while kerosene has a total year-to-date net increase of P2.90 per liter.

--VAL, GMA Integrated News