Fuel price cut seen amid possible higher Venezuelan outputAfter four days of trading in the Mean of Platts Singapore, local industry experts said diesel could drop by P0.10 to P0.30 per liter, while gasoline may hold steady or dip by P0.20 per liter. MANILA, Philippines — Domestic pump prices are expected to fall next week, as plans to sell up to 50 million barrels of Venezuelan oil have fueled concerns over global oversupply. “Oil prices edged lower this week as markets weighed the possibility of higher Venezuelan crude output, reinforcing expectations of ample global supply amid weak demand,” Rodela Romero, assistant director at the Department of Energy, said. Earlier this week, US president Donald Trump announced that Caracas would deliver 30 to 50 million barrels of sanctioned oil to Washington. Final price adjustments will be announced on Monday and will take effect the following day.

Source: Philippine Star January 09, 2026 16:32 UTC