Motorists may see another round of fuel price rollbacks next week, with Jetti Petroleum Inc. projecting reductions of ₱1.00 to ₱1.20 per liter for gasoline and ₱0.40 to ₱0.60 for diesel, based on the three-day Mean of Platts Singapore (MOPS) indicators.
Jetti president Leo Bellas attributed the projected cuts to declining global oil prices amid easing geopolitical tensions in the Middle East, the prospect of an OPEC supply hike, and economic concerns related to possible new US tariffs.
However, fuel prices remain “range bound” due to positive demand from China and anticipated Saudi price increases for August.
Caltex will likewise implement price cuts effective today, 3 July, cutting ₱0.60/liter for gasoline, ₱0.35 for diesel, and ₱0.50 for kerosene.
This development marks the second consecutive week of fuel rollbacks, offering continued relief to the motoring public.
Despite recent rollbacks, Department of Energy (DOE) data as of June 24 show year-to-date net increases of ₱10.40/liter for gasoline, ₱11.85 for diesel, and ₱4.05 for kerosene.
