Diesel, kerosene rollback; gasoline hike seen next week

Gasoline prices are slated for a third straight week of hikes, while diesel and kerosene might be rolled back for the second time in the coming 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 pump price adjustments are as follows:

Gasoline - increase of P0.10 to P0.30 per liter

Diesel - rollback of P0.40 to P0.70 per liter

Kerosene - rollback of P0.40 to P0.60 per liter

Likewise, Jetti Petroleum said the price per liter of diesel is seen to be slashed by P0.40 to P0.50 while gasoline prices could be increased by P0.30 to P0.40 per liter.

Romero said the reasons for the expected hike in gasoline prices are the following:

• Uncertain geopolitical climate in the Middle East particularly recent strikes between Israel and Hezbollah
• OPEC+ delays output hikes

For the anticipated rollback in diesel and kerosene, the reasons are as follows:

• Bearish demand outlook for 2025 especially from top importer China
• Strengthening of US dollar and Pres. Trump's promise to drill more

Fuel firms usually announce price adjustments every Monday, to be implemented on the following day.

Effective Tuesday, December 3, oil companies hiked the prices per liter of gasoline by P0.90; while rolling back those of diesel by P0.20, and kerosene by P0.40.

--VAL, GMA Integrated News