GASOLINE prices are expected to rise for the third consecutive week, while diesel and kerosene prices may be reduced again in the coming days, according to the Department of Energy (DOE).

In a report by GMA News, Rodela Romero, Assistant Director of the DOE's Oil Industry Management Bureau, cited industry estimates based on recent international trading patterns, predicting a "mixed movement" in fuel prices for the week ahead.

Gasoline prices are expected to increase by P0.10 to P0.30 per liter, while diesel and kerosene prices could see reductions ranging from P0.40 to P0.70 per liter.

Romero highlighted several factors contributing to the anticipated rise in gasoline prices.

These include the ongoing geopolitical tensions in the Middle East, particularly the recent clashes between Israel and Hezbollah, and delays in output hikes by OPEC+ producers.

Conversely, the expected rollback in diesel and kerosene prices is attributed to a weakening demand outlook for 2025, particularly from China, the world's largest importer of oil.

Additionally, the strengthening of the US dollar and President Donald Trump’s promises to increase domestic oil production are expected to weigh on global fuel prices.

Local oil firm Jetti Petroleum also projected a price adjustment for the coming week, forecasting a diesel price reduction of P0.40 to P0.50 per liter, while gasoline could see an increase of P0.30 to P0.40 per liter.

On December 3, oil companies raised gasoline prices by P0.90 per liter, while reducing the prices of diesel by P0.20 and kerosene by P0.40.

Price adjustments are typically announced every Monday, with new rates taking effect the following day.(CMM)

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• #Diesel
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