Gasoline prices to drop, diesel and kerosene to rise next week

Mixed movements in oil prices are anticipated for the last week of November, with gasoline expected to decrease while diesel and kerosene may see increases.

Gasoline prices might be rolled back by P0.50 per liter, while diesel and kerosene could increase by P0.50 and P1.35 per liter, respectively.

These price adjustments are attributed to global oil supply and demand dynamics, as well as geopolitical tensions.

The potential decrease in gasoline prices is influenced by OPEC+'s indication of an oversupply and weak global economic indicators.

Conversely, oil prices have seen a modest rebound due to heightened geopolitical rifts, particularly concerning US sanctions on Russian, Iranian, and Venezuelan oil companies.

The nationwide price freeze, implemented due to a national state of calamity, will conclude on November 21, with the new price adjustments taking effect on November 25.