Motorists can expect cheaper fuel starting Tuesday, with industry players forecasting significant price cuts—especially for diesel and kerosene.
According to Jetti Petroleum, gasoline prices may go down from ₱0.10 to ₱0.30 per liter, while diesel could see a much bigger rollback of ₱3.00 to ₱3.20 per liter. The company says the drop is driven by market correction as global traders react to the possibility of a U.S.-brokered ceasefire in Ukraine.
The Department of Energy (DOE) also expects kerosene prices to fall by about ₱3.00 per liter, citing concerns over a potential oversupply in the world oil market.
These rollbacks follow last week’s mixed adjustments, when gasoline prices went down by ₱0.20 per liter but diesel and kerosene increased by ₱0.60 and ₱1.30, respectively.
If the expected cuts push through, it will be the first major rollback for diesel and kerosene since October 21, when both products also saw slight price drops.
Pump prices thus far this year have gone up by ₱19.70 per liter for gasoline, ₱24.65 for diesel, and ₱9.95 for kerosene.
DOE data show that from November 25 to December 1, fuel prices in Metro Manila average ₱55.50 for RON 91 gasoline, ₱60.65 for diesel, and ₱82.85 for kerosene.
