Fuel Prices Seen to Drop Next Week Despite Ongoing Global Tensions
Blue car at gas station filled with fuel. Closeup woman hand pumping gasoline fuel in car at gas station.
woman refuel car petrol pump filling gas at gas pump.
Amid continued tensions in the Middle East affecting global oil supply, the Philippines remains vulnerable to fluctuations in fuel prices. Despite this, the government has maintained that it will not suspend or defer the oil excise tax, a move that has drawn mixed reactions from both industry players and consumers.
However, there may be some good news for motorists. Industry experts estimate a significant rollback in fuel prices in the coming week, particularly for diesel and kerosene. Diesel prices are projected to decrease by around 10 to 11 Pesos per liter, while kerosene is expected to see a similar reduction within the same range.
Gasoline prices, on the other hand, may show no movement at all, although a minimal adjustment of around 1 Peso per liter cannot be ruled out.
These anticipated price adjustments come as global oil prices show signs of easing after recent volatility driven by geopolitical conflicts and supply concerns.
Oil companies are set to make the official announcement on tomorrow Monday, with the new prices scheduled for implementation on Tuesday.
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