Fuel price rollback to welcome motorists on New Year’s Eve

By
Carlo Juancho Funtanilla
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MANILA. Motorists can expect some relief at the pump as fuel prices are set to roll back just in time for New Year’s Eve, according to industry estimates based on international trading trends over the past four days.

Expected Price Adjustments

Assistant Director Rodela Romero of the Department of Energy’s Oil Industry Management Bureau announced the anticipated reductions in fuel prices during a briefing:

  • Gasoline: A rollback of P0.30 to P0.65 per liter
  • Diesel: A rollback of P0.30 to P0.55 per liter
  • Kerosene: A rollback of P0.80 to P0.90 per liter

“This estimated adjustment is triggered by the IEA’s (International Energy Agency) 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,” Romero explained.

Final Adjustments to be Announced

The final adjustments will depend on the results of Friday’s trading. Oil firms typically announce official price adjustments every Monday, which then take effect the following day.

Previous Price Movements

On December 24, 2024, oil companies implemented price hikes:

  • Gasoline: +P0.50 per liter
  • Diesel: +P1.45 per liter
  • Kerosene: +P0.75 per liter

These adjustments contributed to the year-to-date net changes:

  • Gasoline: +P13.05 per liter
  • Diesel: +P11.30 per liter
  • Kerosene: -P1.80 per liter

Prevailing Fuel Prices in Metro Manila

As of the latest data from the DOE’s price monitoring, fuel prices in Metro Manila are as follows:

  • Gasoline: P51.35 to P74.42 per liter
  • Diesel: P49 to P65.79 per liter
  • Kerosene: P61.98 to P80.94 per liter

The rollback comes as a welcome development for motorists, providing some financial relief amid fluctuating fuel prices throughout the year. Stay tuned for the final price adjustments to be announced on Monday.

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Carlo Juancho FuntanillaFrontend Developer, WordPress, Shopify
Contributing Editor
AMA ACLC San Pablo

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