Gasoline, diesel prices will likely rise ahead of Christmas week - DOE

Metro Manila, Philippines – Higher demand in the runup to the Christmas holidays, coupled with the protracted crisis in the Middle East, will likely push gasoline and diesel prices next week, projections of the Department of Energy showed on Friday, Dec. 13.

In an advisory, the DOE said gasoline and diesel prices may increase by up to P0.45 and P0.40 per liter, respectively.

Oil firms implemented a P0.40 hike in gasoline price last Tuesday, while diesel costs were slashed by P0.50 per liter.

Meanwhile, the agency said kerosene prices may go down by as much as 0.30 per liter next week.

The DOE cited a number of reasons for price adjustments, including “geopolitical volatility” with the situation in Syria and a report from the S&P Global Commodity Insights’ 2025 Energy Outlook, saying global energy demand is seen to rise by 8 million barrels per day in 2025.