Gasoline, diesel price hike seen next week

Motorists should brace anew for another round of increase in the pump prices of gasoline and diesel next week.

Citing industry estimates, based on international trading in the past four days, Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said that “another mixed movement will be experienced next week.”

The estimated retail price adjustments on petroleum products are as follows:

• Gasoline - increase of P0.15 to P0.45 per liter
• Diesel - increase of P0.10 to P0.40 per liter
• Kerosene - rollback of P0.20 to P0.30 per liter

The Energy official cited the following developments which could have affected fuel price movements in the world market: 

• S & P Global Commodity Insights’ 2025 Energy Outlook reporting that global primary energy demand is expected to rise by 8 MMBD by 2025
• Middle East geopolitical volatility with recent Syria’s upheaval, which caused a brief price surge but quickly eclipsed by concerns over China’s weak demand
• OPEC+ delays reviving or increasing output to avoid supply glut until April 2025

Oil companies announce official per liter price adjustments every Monday, which will take effect on the following day.

On December 10, fuel firms hiked the prices per liter of gasoline by P0.40, while reducing those of diesel by P0.50, and kerosene by P0.75. —AOL, GMA Integrated News