A Holiday Gift at the Pump: Fuel Prices Set to Drop for Christmas
The holiday season can be expensive. Between the gifts, the reunions, and the feast on the table, our wallets usually feel the squeeze.
But this week, there’s a bit of unexpected magic coming to a gas station near you.
According to the Department of Energy (DOE), a significant rollback in fuel prices is expected just in time for Christmas week. It’s the kind of news that makes those long holiday drives to see family feel a little bit lighter.
What to Expect Next Week
If you’re planning to fill up your tank, you might want to wait just a few more days. Here is the breakdown of the potential savings:
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Gasoline: A rollback of more or less P1.20
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Diesel: A rollback of more or less P1.70
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Kerosene: A rollback of more or less P1.75
Imagine that. For a family planning a road trip to the province, those pesos add up. It’s an extra snack for the kids or a little more to spend on a Christmas morning surprise.
Why the Change?
You might be wondering: Why now? According to DOE-OIMB Assistant Director Rodela Romero, it’s a combination of things happening across the globe. Right now, there is a “robust supply” of oil and a “weak demand”—meaning there is plenty to go around.
But there’s also something deeper at play: Hope.
The world is feeling a sense of optimism over a potential peace agreement between Russia and Ukraine. When the world feels more peaceful, the markets breathe a sigh of relief, and we feel that peace right here at home—at the pump.
A Small Note of Caution
While the outlook is bright, these numbers are based on the first four days of international trading. The final, official price adjustments will be announced this coming Monday and will take effect on Tuesday.
So, take a breath. Keep an eye on the news. And maybe—just maybe—this Christmas, the journey home will be just as sweet as the destination.
Merry Christmas, and drive safe!
