Motorists can expect lower fuel prices next week, just in time for New Year’s Eve.

The Department of Energy (DOE) estimated the following price rollbacks per liter:

• Gasoline: ₱0.30–₱0.65
• Diesel: ₱0.30–₱0.55
• Kerosene: ₱0.80–₱0.90

DOE Assistant Director Rodela Romero attributed the adjustment to the International Energy Agency's (IEA) forecast of an oversupplied oil market in 2025, despite OPEC+ production cuts. Final prices will be confirmed after Friday’s trading.

Price adjustments take effect every Tuesday, with oil firms announcing changes the day prior.