OIL PRICE UPDATE- Mixed Price Adjustments Expected Next Week
FUEL PRICE UPDATE – The Department of Energy has released the oil price update for Tuesday (February 4, 2025).
Motorists can expect mixed changes in fuel prices starting Tuesday, February 4, 2025, as announced by the Department of Energy (DOE). Gasoline prices are set to rise, while diesel and kerosene users will see a slight decrease in costs.
According to the DOE, the increase in gasoline prices is influenced by shifts in the global oil market. On the other hand, diesel and kerosene will have a rollback due to lower international demand and stable supply.
These adjustments are part of the regular weekly review of fuel prices, which reflects changes in the global oil landscape.
In addition to fuel price changes, Petron announced a price increase for liquefied petroleum gas (LPG). Starting February 1, LPG prices will go up by ₱0.70 per kilo. This adjustment will affect households relying on LPG for cooking and heating, prompting many to consider refilling their tanks before the increase takes effect.
These price movements highlight the ever-changing nature of fuel costs, driven by international market conditions. Consumers are encouraged to stay updated with weekly price announcements to plan their fuel budgets accordingly.
With gasoline prices on the rise, drivers may feel a bit of a pinch at the pump, but the decrease in diesel and kerosene costs brings a bit of relief, especially for businesses and households that rely on these fuels.
Meanwhile, the LPG price hike might prompt some to refill early to save on expenses.
As always, keeping track of fuel price changes can help consumers manage their expenses better in the coming weeks.
This is a developing report, just visit this website regularly or refresh the page for further updates.
READ ALSO: Fuel Firms to Implement Oil Price Rollback on Tuesday (January 28, 2025)