MANILA — Fuel price adjustments expected next week will bring a mix of increases and decreases for motorists.
Gasoline is forecasted to see a rollback of P0.40 to P0.70 per liter, while diesel prices may remain steady or experience a minor rollback of up to P0.20 per liter.
Kerosene prices, on the other hand, are anticipated to rise slightly by P0.10 to P0.20 per liter.
These projections, reported by Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero, reflect international trading data from the past week.
Romero highlighted several global factors impacting prices, including ongoing tensions in the Middle East and rising U.S. fuel demand amid reduced crude inventories.
Despite recent concerns, there is optimism for diplomatic developments that could stabilize the region, especially following signals from Israel.
Fuel companies are expected to announce finalized price adjustments on Monday, with changes to take effect on Tuesday (05 Nov 2024).
As of October 29, gasoline and diesel have shown net price increases for the year of P8.75 and P6.55 per liter, respectively, while kerosene reflects a net decrease of P3.10 per liter year-to-date.
