Motorists Brace for Mixed Fuel Price Changes Next Week
Motorists should prepare for mixed movements in fuel prices in the coming week, the Department of Energy (DOE) said.
Based on recent trading in the Mean of Platts Singapore (MOPS) over the past four days, DOE-Oil Industry Management Bureau Assistant Director Rodela Romero shared the following expected adjustments:
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Gasoline: rollback of around ₱0.50 per liter
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Diesel: increase of about ₱0.50 per liter
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Kerosene: rise of approximately ₱1.35 per liter
Romero noted that the final prices will be confirmed after Friday’s MOPS trading.
Why Prices Are Shifting
Global crude oil prices have shown mixed movements in recent days, influenced by supply, demand, and geopolitical factors.
“There’s an oversupply, signals from OPEC+, weak global economic indicators, and a modest rebound driven by heightened geopolitical risks, especially sanctions on Russia, Iran, and Venezuela,” Romero explained.
Recent Price Changes
Oil companies adjust retail fuel prices every Monday, with changes implemented the following day.
Just this week, on Tuesday, November 18, prices of gasoline and diesel rose by ₱1.20 per liter, while kerosene remained unchanged under the nationwide price freeze following the state of national calamity.
Motorists are advised to monitor price updates closely as final adjustments are confirmed later this week.
