There are many other beautiful places in the Philippines outside its capital, but these 5 destinations will let you enjoy weekend trips with great ease.
Fuel Prices Are Set to Roll Back Just in Time for New Year's Eve
Motorists can anticipate a slight decrease in fuel prices next week, bringing some relief as the new year draws to a close. This anticipated fuel price rollback is attributed to a combination of factors impacting the global oil market.
Also read: MMDA Suspends Number Coding for the Christmas Season
Factors influencing the rollback
The International Energy Agency (IEA) continues to forecast an oversupplied oil market in 2025, even considering the potential impact of production decisions by the Organization of the Petroleum Exporting Countries and its allies (OPEC+). With this oversupply outlook, there is expected to be a downward pressure on oil prices.
Estimated price adjustments
Image credit: KCKATE via Canva Pro
While the final adjustments will depend on the outcome of Friday's trading, preliminary estimates suggest the following potential price reductions:
Gasoline: P0.30 to P0.65 per liter
Diesel: P0.30 to P0.55 per liter
Kerosene: P0.80 to P0.90 per liter
Recent price movements
It's important to note that this anticipated fuel price rollback follows a recent price hike. On Tuesday, 24 Dec, oil companies implemented the following price adjustments:
Gasoline: P0.50 per liter increase
Diesel: P1.45 per liter increase
Kerosene: P0.75 per liter increase
These recent increases have contributed to the year-to-date net increase in gasoline and diesel prices.
Year-to-Date Price Trends
Gasoline: Year-to-date net increase of P13.05 per liter
Diesel: Year-to-date net increase of P11.30 per liter
Kerosene: Year-to-date net decrease of P1.80 per liter
Also read: Toll-Free Hours for MPTC Expressways This Holiday Season
This anticipated fuel price rollback ahead of the New Year's Eve will definitely offer some respite to motorists. However, it's important to remember that global oil market dynamics are very complex, hence, they are subject to change regularly.
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About Author
Patricia Caleon
Patricia is a simple girl who likes to express herself through pictures and words. Not much for talking; writing and taking pictures have always been her way of telling people of her stories and adventures. On a normal day, you'll probably see her reading a good book in one hand and a cup of coffee in another.
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