Motorists utilizing gasoline may face increased costs, while reductions in the prices of diesel and kerosene are anticipated during the first week of December, according to a statement from the Department of Energy on Saturday.
The upcoming adjustments in oil product prices are forecasted for 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
Petron declared an increase of P1.20 per kilogram for liquefied petroleum gas (LPG). Additionally, Regasco has announced that it will implement a further increase of P0.50 per kilogram.
The Department of Energy indicated that a global surplus of fuel is anticipated in the first quarter of 2025, accompanied by diminished demand.
For the remainder of 2024, the DOE projected that oil prices are expected to decline due to a decrease in overall demand. #
