Fuel prices expected to roll back next week

DAVAO CITY – Motorists may see a slight rollback in fuel prices next week, following recent movements in the global oil market, according to industry estimates based on international trading trends over the past four days.

Department of Energy – Oil Industry Management Bureau (DOE-OIMB) Assistant Director Rodela Romero stated that the price per liter of gasoline may either remain unchanged or decrease by up to ₱0.30 per liter.

Meanwhile, a price reduction is expected for:

• Diesel: ₱0.20 to ₱0.50 per liter
• Kerosene: ₱0.10 to ₱0.25 per liter
• Recent Fuel Price Adjustments

On Tuesday, oil companies implemented the following adjustments:

• Gasoline: ₱0.70 per liter increase
• Diesel: ₱1.15 per liter rollback
• Kerosene: ₱0.90 per liter rollback

Romero cited several global market factors contributing to the anticipated price rollback next week: Saudi Aramco Price Increase – The world’s largest oil exporter announced a price hike for buyers in Asia for March deliveries, citing rising demand from China and India amid US sanctions disrupting Russian oil supply.

OPEC Production Decline – The Organization of the Petroleum Exporting Countries (OPEC) saw a drop in production in January, particularly from Iran and Nigeria, affecting global supply and pricing trends.

Trade Tensions and Tariffs – The market reacted to US President Donald Trump’s announcement of planned tariffs on Canada, Mexico, and China, which may influence oil demand and pricing volatility.

Oil companies are expected to announce official price adjustments on Monday, which will take effect the following day, Tuesday.

Motorists are advised to monitor fuel price updates from their preferred fuel providers for official adjustments.