3 weeks ago
8
Upgrade to High-Speed Internet for only ₱1499/month!
Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.
Visit Suniway.ph to learn
Brix Lelis - The Philippine Star
May 31, 2025 | 12:00am
The Department of Energy has indicated a potential price hike of up to P0.40 per liter for gasoline and a rollback of P0.10 per liter for kerosene.
STAR / File
MANILA, Philippines — Pump prices of petroleum products are likely to go separate ways next week to reflect recent developments in global markets.
The Department of Energy has indicated a potential price hike of up to P0.40 per liter for gasoline and a rollback of P0.10 per liter for kerosene.
Diesel prices, meanwhile, may either decline by P0.20 per liter or increase by P0.30 per liter.
The estimates were based on the four-day trading in the international oil market.
Oil Industry Management Bureau assistant director Rodela Romero traced the increase to possible fresh US sanctions on Russia, which overshadowed OPEC+’s impending output hike.
Other factors cited include the easing tariff tensions between the US and the European Union, as well as the escalating conflicts among oil-producing countries.
The rollback, on the other hand, was a result of the economic slowdown in Asia and the “shifting energy priorities in countries like India, thus contributing to the reduced demand forecasts,” Romero noted.
Yesterday’s trading would determine the final price adjustments, which will be announced on Monday and will take effect the following day.
