Next Week's Fuel Price Outlook — Gasoline Expected to Drop by Up to 14 Pesos on 11/10 (Tue)

Next Week's Fuel Price Outlook — Gasoline Expected to Drop by Up to 14 Pesos on 11/10 (Tue)

📌 On Friday, November 6, the Department of Energy (DOE) and the oil industry projected that fuel prices taking effect next week, from Tuesday, November 10, will fall sharply. Gasoline is expected to drop by 12.50–14 pesos per liter, diesel by 4.30–5 pesos, and kerosene by about 5.20 pesos. These are still estimates; the confirmed adjustment will be announced on Monday the 9th.

■ Next Week's Forecast
· Gasoline: rollback of 12.50–14.00 pesos per liter
· Diesel: rollback of 4.30–5.00 pesos per liter
· Kerosene: rollback of about 5.20 pesos per liter (DOE estimate)

■ Estimates Differ by Report
· Rino Abad, Director of the DOE Oil Industry Management Bureau (reported by CLTV36): gasoline down by up to 14 pesos, diesel by 5 pesos, kerosene by 5.20 pesos — a preliminary estimate based on the first 4 days of trading this week
· Oil industry sources (reported by The Manila Times): gasoline down by 12.50–13.50 pesos, diesel by 4.30–4.50 pesos — based on 4 days of Singapore MOPS trading
· Philstar report (based on 3 days of MOPS trading): gasoline down by 10.20 pesos, diesel by 3.50 pesos, kerosene by 3.60 pesos

■ Effective Date and Causes
· The DOE will announce the final adjustment on Monday, November 9, and the new prices usually take effect the next day, Tuesday.
· The industry attributed the drop to the international market reacting to the results of the US midterm elections and changes in the Middle East situation. Philstar reported that the peso recovering to around 62 pesos per dollar was also a factor in the rollback.
· Director Abad said that because these are preliminary estimates, they may change depending on actual international oil prices and the global supply situation.

Actual pump prices (Petron Quezon City) can be seen every week in the fuel price section on the SeeQee home screen.

■ Sources
The Manila Times (11/6), CLTV36 (11/6), Philstar (11/6)

■ Photos
· 1. File photo · Motorcycle riders lined up at a gas station — Philstar
· 2. File photo · Fueling a motorcycle — The Manila Times
· 3. File photo · Fuel pump nozzle — CLTV36
· 4. File photo · Attendant fueling a motorcycle — Inquirer
· 5. File photo · Attendant in front of a gas station price board — Daily Tribune
· 6. File photo · Worker changing a gas station price board — Manila Bulletin