(Picture from Taguig.com)
Based on estimates from local industry sources, gasoline prices are expected to drop by P0.70 to P1.00 per liter. Diesel prices may potentially decrease by P0.20 to P0.55 per liter. Meanwhile, kerosene prices are anticipated to decrease by P0.40 to P0.50 per liter.
These estimates are based on four days of trading at the Mean of Platts Singapore, the benchmark for petroleum product prices in Southeast Asia.
"After three weeks of increases, fuel prices will finally go down next week as the market continues to gauge how U.S. President Donald Trump's proposed tariffs could affect global economic growth and demand for energy. In addition, the reopening of refineries and ports in the U.S. Gulf Coast last Wednesday after a winter storm also had an effect," said Director Rodela Romero of the Department of Energy (DOE) Oil Industry Management Bureau.
On January 21, 2025, local petroleum companies implemented a price increase of P1.65 per liter for gasoline, P2.70 per liter for diesel, and P2.50 per liter for kerosene.
