Fuel Companies to Impose Another Round of Oil Price Rollback to Take Effect in Second Week of May
FUEL PRICE UPDATE – Another round of oil price rollback is set to take effect in the second week of May 2025.
Filipino motorists can expect lower fuel prices once more as another round of rollbacks is set for the second week of May. It follows a recent price cut and could mark two weeks in a row of price cuts at the pump.
According to the Department of Energy, based on recent global trading activity, fuel prices are likely to go down starting May 14. The expected reductions are between P1.00 to P1.35 per liter for diesel, P1.30 to P1.45 for kerosene, and P0.30 to P0.75 for gasoline.
The main reason behind the rollback is the global oil market’s reaction to key developments. OPEC+ has announced a production increase of 411,000 barrels per day starting in June. This move has sparked concerns of oversupply.
In addition, trade tensions between the U.S. and China have added uncertainty to global demand forecasts, leading to a dip in oil prices.
Fuel companies in the Philippines usually announce any price adjustments every Monday, with new rates taking effect the following day. The upcoming changes come just a week after fuel firms cut prices by P0.55 per liter for gasoline, P0.65 for diesel, and P0.90 for kerosene.
The year-to-date adjustment shows that gasoline has seen a total net increase of P3.10 per liter, while diesel has gone up by P3.00. Kerosene, on the other hand, has experienced a net decrease of P2.00 per liter.
The upcoming rollback is expected to offer some relief to drivers, especially those using diesel and kerosene. While global factors remain uncertain, these price cuts will help ease the cost of travel and transport for now.
This is a developing report, just visit this website regularly or refresh the page for further updates.
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