Philippine Motorists Face Gasoline Price Hike, While Diesel and Kerosene See Relief

 

MANILA — Motorists using gasoline may have to shell out more

MANILA — Motorists using gasoline may have to shell out more while price cuts on diesel and kerosene are expected on the first week of December, the Department of Energy said Saturday.

The following price adjustment on oil products are projected next week:

Gasoline - P0.70 to P0.90 per liter increase

Diesel - P0.20 to P0.40 per liter decrease

Kerosene - P0.20 to P0.40 per liter decrease

The DOE explained that a global oversupply of fuel is expected in the first quarter of 2025, along with a low demand.

For the rest of 2024, DOE said oil prices are likely to decrease due to lower overall demand.

LPG PRICE INCREASE

For LPG, Petron announced a P1.20/kg increase on Sunday, December 1, 2024. 

Regasco already said it is also imposing an additional P0.50/kg.

The Department of Energy (DOE) in Manila has announced that motorists using gasoline may face higher prices, while diesel and kerosene prices are expected to decrease in the first week of December. The projected price adjustments for oil products are as follows:

Gasoline: An increase of P0.70 to P0.90 per liter

Diesel: A decrease of P0.20 to P0.40 per liter

Kerosene: A decrease of P0.20 to P0.40 per liter

The DOE explained that the expected global oversupply of fuel in the first quarter of 2025, coupled with low demand, is contributing to these price changes. For the remainder of 2024, the DOE anticipates that oil prices will generally decrease due to lower overall demand.

In addition to these changes, Petron has announced a P1.20 per kilogram increase in LPG prices starting Sunday, December 1, 2024. Regasco has also indicated an additional P0.50 per kilogram increase in LPG prices.