Oil Monitor as of 08 April 2025

Date published: April 11, 2025

WORLD OIL PRICES (March 31-April 04, 2025, trading days)

The week-on-week price of Dubai crude decreased by about $0.30 per barrel.  The international prices of gasoline have also decreased by about $0.50 per barrel along with kerosene by about $1.05 per barrel and diesel by around $0.60 per barrel.

Reasons for the Price Adjustment1

  • Crude futures were dragged down by concerns over a demand slowdown following a slew of reciprocal tariffs by the US, while fears of a supply glut were exacerbated by OPEC+'s agreement to a threefold increase in output in May.
    • US announced blanket tariffs of at least 10% on all imported goods, along with a sliding scale of reciprocal duties on major trading partners. While the tariffs exclude most energy imports, including those from key trading partners Mexico and Canada, they are expected to slow global economic growth.
    • Crude oil rallied earlier this week after US President Donald Trump suggested he would curtail shipments of Russian crude.  He also threatened Iran with military action if Iran does not agree to dismantle its nuclear enrichment program which strengthened the crude fundamentals.  However, with the recent tariffs announcement the crude market erased all the gains made earlier this week.
  • US commercial crude inventories increased to 6.2 million barrels totaling 439.8 million barrels in the week ended March 28, as exports and refinery runs declined further weighing on oil market fundamentals data from the Energy Information Administration showed.
  • The Asian gasoline market complex softened amid a narrowing US RBOB-Brent crack as the total US gasoline supplied, a proxy for US gasoline demand, fell week over week, and weaker demand in the region.
    • Indonesia is expected to import about 11 million-11.5 million barrels of gasoline in April, down from the estimated 11.5 million-12 million barrels in March, due to a weak economic outlook, as per market sources.
    •  Taiwan's motor gasoline consumption fell in February due to a rise in retail prices and amid the end of the Lunar New Year holidays, data from the Ministry of Economic Affairs' Energy Administration showed.
  • US gasoline demand could fall further as consumers are likely to cut gasoline consumption in light of the higher cost of other goods due to the recent round of tariffs announced by the US.
  • The Asian ultra-low sulfur gasoil market weakened in the absence of spot trade activity while market participants kept a bearish view as demand is expected to be subdued over April and May.

FOREX:  The week-on-week average of Philippine peso appreciated versus the US dollar by P0.33 to P57.13 from P57.46 in the previous week.  

 

DOMESTIC OIL PRICES

Effective 08 April 2025, local oil companies implemented a price decrease of P0.10/liter for gasoline and P0.50/liter for kerosene.  No adjustment for diesel.

Year-to-date, gasoline has a total net increase of P4.55/liter, diesel total net increase of P4.45 while kerosene has a total net increase of P0.40/liter.

For the updated prevailing retail pump prices, please refer to this link:

Other recommended reference sites:                

1 Asia Pacific 04 April 2025 Weekly Oil Recap by S & P Global Platts Analytics 

For more information, call the

Department of Energy
Pricing: 8840-2187
LPG: 8840-2130
Fuels: 8840-5669

Website: https://www.doe.gov.ph

 

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