Mixed movement in fuel prices seen next week

Metro Manila, Philippines — Fuel prices are expected to have mixed movements next week, the Department of Energy (DOE) said on Friday, Nov. 29.

Based on estimates, gasoline price will inch up by P0.55 to P0.80 per liter while kerosene cost will roll back by P0.10 to P0.30 per liter.

Diesel price, meanwhile, may either remain the same or have a rollback of up to P0.30 per liter.

According to the DOE, the cost cut may be attributed to the steadying of crude at lower levels after a ceasefire between Israel and militant group Hezbollah as well as China’s downward consumption.

Meanwhile, the possible unexpected drop in the United States’ crude inventory and the Organization of the Petroleum Exporting Countries Plus cuts will be “rolled over again and the easing of the output curbs could begin gradually in April 2025” may have contributed to the price hikes.