Massive P16.80/L rollback for gasoline

Unleaded gasoline prices could average just ₱75 per liter after a massive ₱16.80-per-liter rollback takes effect on Tuesday, November 10, potentially bringing pump prices to their lowest level in months.

Based on the latest Department of Energy (DOE) computation, diesel prices will also go down by ₱4.10 per liter, while kerosene prices are set to drop by ₱3.70 per liter. The adjustments will take effect at 6 a.m. on November 10.

However, it remains unclear whether the massive gasoline rollback will be implemented in full on Tuesday or spread across several days. The DOE has yet to clarify how the ₱16.80-per-liter reduction will be applied.

Following the latest adjustments, diesel prices are projected to average ₱90.35 per liter, down from ₱94.45, while unleaded gasoline prices are expected to reach ₱75.00 per liter, down from ₱91.80. The projected gasoline average would be its lowest in months. These estimates are based on last week’s projected averages and may vary across fuel stations.

Last week’s adjustment saw gasoline prices rise by ₱3.50 per liter, while diesel and kerosene prices fell by ₱1.00 and ₱1.90 per liter, respectively. Tuesday’s gasoline rollback will more than offset that increase.

As of press time, oil companies have yet to release their respective advisories for the week’s price changes. Actual adjustments could vary by company and fuel product, although oil firms have generally stayed close to DOE-computed figures in previous price adjustments.