Oil Price Rollback Expected Next Week, Gas Stations Say
FUEL PRICE UPDATE – Several gas stations across the country have announced a planned oil price rollback for next week.
Starting Tuesday, May 6, 2025, Filipino motorists and businesses can expect a welcome break as fuel prices are set to go down just a few days before the May 12, 2025 midterm elections.
The Department of Energy (DOE) announced that the price cuts come after back-to-back increases over the past two weeks.
The expected rollback covers gasoline, diesel, and kerosene. Gasoline prices may go down by P0.25 to P0.70 per liter, diesel by P0.30 to P0.80, and kerosene by P0.50 to P0.70. These adjustments are based on recent international trading figures, specifically from the Mean of Platts Singapore.
Several factors are pushing global oil prices lower. A rise in crude oil stocks in the United States suggests more than enough supply, while reports indicate that Saudi Arabia may increase production to maintain its position in the global market.
In addition, concerns over unstable trade policies in the US have created uncertainty for global economic growth, which also affects fuel demand.
Local conditions are also helping to ease prices. A stronger peso compared to the dollar and reduced demand from consumers have contributed to the expected drop.
Last week, gasoline prices will go up by P1.35 per liter, diesel by P0.80, and kerosene by P0.70. This week’s rollback, though smaller, offers some relief.
In a related development, the price of liquefied petroleum gas (LPG) has also been reduced by P1 per kilogram since May 1.
The DOE is also preparing to roll out its fuel price unbundling policy by June 2025, requiring fuel companies to give a breakdown of their pricing. Non-compliance could result in penalties.
Official price adjustments are announced every Monday and take effect the following day.
This is a developing report, just visit this website regularly or refresh the page for further updates and information.
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