The Department of Energy (DOE) announced on Friday that motorists can expect another rollback in fuel prices next week, bringing relief to consumers amid fluctuating oil prices.
Based on the DOE’s latest advisory, the expected price reductions are as follows:
- Diesel: ₱0.90 to ₱1.20 per liter
- Kerosene: ₱1.30 to ₱1.60 per liter
- Gasoline: ₱1.50 to ₱1.65 per liter
The DOE attributes the price cuts to changes in the global oil market, where crude oil prices have slightly eased due to supply-demand adjustments and geopolitical factors. Local oil companies are expected to implement the rollback by Tuesday next week.
This marks the third consecutive week of decreases in fuel prices, providing some relief to industries and individuals heavily reliant on petroleum products. However, the DOE cautioned that the market remains volatile and advised the public to stay updated on future developments.
Fuel prices in the Philippines are subject to fluctuations based on global market trends, with other contributing factors including foreign exchange rates and regional supply disruptions.
The DOE continues to monitor international oil prices and has assured the public that it will make necessary adjustments to ensure fair pricing across the country.
