Fuel price to roll back on New Year’s Eve

Motorists can enjoy a decrease in the retail prices of fuel on New Year’s Eve as oil companies announced the latest adjustments for this week.

In an advisory, Shell Pilipinas said it will slash the prices per liter of diesel and gasoline by P0.30, and also reduce the price of kerosene by P0.90 per liter.

Cleanfuel and Petro Gazz will implement the same changes, excluding kerosene which they do not carry.

Other firms have yet to release their price adjustments for the week as of posting time.

Oil companies usually announce price adjustments every Monday to be implemented on the following day.

Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero earlier said that the estimated adjustment was triggered by the International Energy Agency’s (IEA) “continued expectation of an oversupplied oil market in 2025 even if OPEC+ (Organization of the Petroleum Exporting Countries Plus) holds production steady or continues to delay the unwinding of its voluntary production cuts.”

Last Tuesday, December 24, oil companies hiked the per liter prices of gasoline by P0.50, diesel by P1.45; and kerosene by P0.75.—AOL, GMA Integrated News