Another mixed adjustment in fuel prices seen next week — DOE

Metro Manila, Philippines — Motorists may expect another mixed movement in pump prices next week, according to a forecast of the Department of Energy (DOE).

Gasoline prices are seen to go up by P0.10 to P0.30 per liter, the DOE said on Friday, Dec. 6.

On the other hand, oil companies may cut prices for diesel at P0.40 to P0.70 and kerosene at P0.40 to P0.60.

Energy officials said the price increase might be attributable to recent strikes between Israel and Iran-backed militant group Hezbollah amid tensions in the Middle East, and the delayed output hikes of a group of major oil-exporting nations.

For the price cut, the DOE said it sees a “bearish demand outlook” for 2025, especially from China, and the greenback rally after US President-elect Donald Trump’s latest pronouncements.

Based on the agency’s monitoring, year-to-date adjustment of gasoline and diesel stood at a net increase of P11.35 per liter and P9.55 per liter, respectively.

Kerosene had a net decline of P1.90 per liter.