Oil Prices Set for Mixed Adjustments in Mid-December

FUEL PRICE UPDATE – Various gasoline stations announced that oil prices are set for mixed adjustments in mid-December.

Filipino motorists may see changes at the pump as the second week of December brings another round of price movements for fuel products. Current market data suggest that gasoline prices are set to increase, while diesel and kerosene may slightly go down.

According to the Department of Energy, the recent trading days under the Mean of Platts Singapore, point to an increase of around P0.70 per liter for gasoline. Diesel, on the other hand, may see a reduction of about P0.45 per liter, and kerosene may drop by P0.25.

The projected prices may still change once the full week trading is completed, but they give drivers an early idea of what to expect.

Behind the price movements are several global issues affecting oil production and distribution. Recent attacks on Russian energy facilities and disruptions in the Black Sea ports have limited gasoline supply, leading to higher prices.

Meanwhile, the expected rollbacks for diesel and kerosene are linked to improving supply conditions. Larger export volumes from China and talks hinting at a calmer situation between Russia and Ukraine have helped ease concerns over middle distillate products, contributing to slower prices.

Diesel price changes may be minimal, with only a small upward adjustment expected. These developments come after the previous week’s mixed price movements, where gasoline increased slightly while diesel and kerosene saw huge reductions.

This is a developing report, just visit this website regularly or refresh the page for further updates.