Fuel prices may drop by P0.90-P1.50 next week

Motorists may see lower fuel prices next week as retailers are expected to roll back pump costs by P0.90 to P1.50 per liter for gasoline, diesel, and kerosene based on recent trading in MOPS (Mean of Platts Singapore) and global news developments.

Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero cited factors such as Korea's reduced fuel demand due to lower tax benefits, high US refined products inventories, easing geopolitical risks, and potential tariffs affecting global oil markets.

Romero noted that the final price adjustments would be announced by fuel firms on Monday and take effect the following day.

Effective Tuesday, February 25, 2025, oil companies had implemented an increase of P0.70 per liter for gasoline, P0.40 per liter for diesel, and P0.20 per liter for kerosene.

These latest movements resulted in year-to-date adjustments for both gasoline and diesel with a total net increase of P4.75 per liter, while kerosene had a total year-to-date net increase of P2.90 per liter.