MOTORISTS should prepare for mixed adjustments in fuel prices next week, with gasoline prices expected to increase while diesel and kerosene may see rollbacks.
Estimated Price Adjustments:
Gasoline: Increase of ₱0.55 to ₱0.80 per liter
Diesel: No change to a rollback of up to ₱0.30 per liter
Kerosene: Rollback of ₱0.10 to ₱0.30 per liter
These estimates are based on international oil trading trends over the past four days.
Factors Behind the Price Movements:
Price Rollbacks
- Stabilized Crude Prices: A US-brokered ceasefire between Israel and Hezbollah has fueled optimism for a broader regional peace agreement.
- Weaker Demand from China: A downward trend in China’s oil consumption has exerted downward pressure on prices.
Price Increases
- OPEC+ Production Cuts: The ongoing production cuts are expected to extend, with gradual easing anticipated by April 2025.
- Decline in US Crude Inventories: A surprise drop in US crude stockpiles has driven bullish sentiments in the oil market.
Fuel Price Announcements and Year-to-Date Adjustments
Fuel companies will announce official price adjustments on Monday, to take effect on Tuesday, November 26. Last week, fuel retailers implemented the following changes:
Gasoline: Increase of ₱1.15 per liter
Diesel: Increase of ₱1.10 per liter
Kerosene: Increase of ₱0.80 per liter
Year-to-date, the cumulative price changes stand as follows:
Gasoline: Net increase of ₱10.45 per liter
Diesel: Net increase of ₱9.75 per liter
Kerosene: Net decrease of ₱1.50 per liter
Motorists are advised to monitor official announcements for final adjustments.