Massive Fuel Rollback: Hold Off on Filling Up Until Next Week!

Filipino motorists could see significant relief at the pumps starting November 10, with diesel and kerosene prices also expected to receive substantial cuts.

Motorists in the Philippines could get some welcome relief next week as oil prices are expected to take a significant downward turn, led by a possible 13 to 14 Pesos per liter rollback in gasoline. Based on preliminary estimates from the Department of Energy (DOE), diesel prices could also go down by around 5 Pesos per liter, while kerosene may become cheaper by approximately 5.20 Pesos per liter.

The projected adjustments are among the biggest fuel price reductions expected in recent months, particularly for gasoline users who have been dealing with price fluctuations.

Expected fuel price adjustments

If the estimates hold, motorists can expect the following reductions:

• Gasoline: Php 13.00 – 14.00 per liter
• Diesel: Php 4.00 – 5.00 per liter
• Kerosene: Php 5.00 – 6.00 per liter

These figures are still estimates and may change depending on the final market movements and the adjustments announced by individual oil companies.

What’s behind the expected rollback?

The anticipated price cuts follow a sharp decline in global oil prices earlier this week. International crude prices reportedly dropped by more than 8% on November 4 as developments surrounding the US midterm elections raised hopes of easing tensions between Washington and Tehran.

Improving fuel supply prospects have also contributed to the decline, alongside a stronger Philippine peso against the US dollar. Since the Philippines relies heavily on imported petroleum products, movements in international oil prices and foreign exchange rates play a significant role in determining local pump prices.

When will the new prices take effect?

Oil companies are expected to announce their final price adjustments on Monday, November 9, with the new rates typically taking effect on Tuesday, November 10.

For motorists, the expected rollback should translate into noticeable savings, especially for those who regularly fill up their vehicles. For example, a 50-liter gasoline purchase could cost around 650.00 to 700.00 Peso less if the projected reduction is fully implemented.

Still, motorists should wait for the official announcements before making plans around the expected savings. The final adjustments may differ slightly between oil companies and could change following the latest movements in the international market.

For now, next week’s projected rollback is certainly good news for Filipino motorists, particularly those hoping for some breathing room in their daily fuel expenses.