Motorists can expect relief at the pumps this week as fuel prices are projected to fall on Tuesday, bringing an end to two consecutive weeks of increases. Jetti Petroleum president Leo Bellas confirmed the expected decline on Sunday, forecasting gasoline will drop by ₱0.25 to ₱0.75 per liter, while diesel prices could see a much larger fall of ₱3.75 to ₱4.00 per liter. Bellas noted the estimate accounts for five full days of global market trading and average foreign exchange rates from the previous week. He explained gasoline prices remain lower week-on-week but have edged up amid tight regional supply, even with increased Chinese exports, as supply still falls short of strong seasonal demand. For diesel, improving crude availability is pushing prices down, though limited exports from the Middle East will prevent steeper falls. No outlook was provided for kerosene. The projected cuts follow last week’s hikes of ₱1.08 per liter for gasoline, ₱2.31 for diesel and ₱0.95 for kerosene. As of August 18–24, NCR prices average ₱74.80 for RON 91 gasoline, ₱90.30 for diesel and ₱116.50 for kerosene—markedly higher than levels seen before the Middle East conflict, which were around ₱53, ₱60.79 and ₱84.67 respectively in late February to early March. The expected drop will ease costs for drivers and businesses relying on transport, particularly offering significant savings for diesel-dependent vehicles and deliveries, though prices remain far above earlier levels.
Fuel prices set to drop, ending two-week streak of hikes
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