Motorists may need to brace—but not panic—as fuel prices head into the days before the New Year.
According to the Department of Energy’s Oil Industry Management Bureau (DOE-OIMB), mixed movements in petroleum prices are expected next week.
In a briefing on Friday, DOE-OIMB assistant director Rodela Romero shared early estimates based on a three-day monitoring of the Mean of Platts Singapore (MOPS), the benchmark used for fuel pricing.
Here’s what drivers can expect at the pump:
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Gasoline: possible rollback of around ₱0.50
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Diesel: no price adjustment
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Kerosene: possible increase of about ₱0.10
Romero clarified that these estimates do not yet include oil companies’ operating costs and other premiums, which could still affect final prices.
So, why the mixed movement?
Romero explained that global factors are once again at play.
There is an oversupply of oil, particularly from non-OPEC countries like the United States. At the same time, demand is starting to soften as holiday travel winds down and seasonal industrial activity slows.
Adding to the uncertainty are ongoing geopolitical tensions—from Venezuela to Ukraine and Russia—which continue to influence global oil markets.
For now, motorists will have to wait for the final word.
Oil companies are expected to announce their official price adjustments on Monday, with changes taking effect the following day.
As the year draws to a close, every peso still counts—and drivers will be watching closely.
