Fuel prices across the country will decline significantly starting Tuesday, following the de-escalation of tensions between Israel and Iran, which led to a drop in global oil risk premiums.
Retailers including Seaoil, Caltex, PTT, Clean Fuel, and Jetti will implement the following rollbacks:
- Gasoline: ↓ P1.40/liter
- Diesel: ↓ P1.80/liter
- Kerosene: ↓ P2.20/liter (only for brands that carry it)
This marks the first major price rollback in weeks, breaking a trend of steady increases that began in May. The year-to-date net price hikes still stand at P9 for gasoline, P10.05 for diesel, and P1.85 for kerosene.
Industry sources, including Jetti Petroleum president Leo Bellas, attribute the rollback to reduced geopolitical risk. The Department of Energy (DOE) confirmed this trend, noting the market has shifted its focus back to fundamentals.
For businesses and households, the price cut offers welcome relief—especially to the transport sector, which continues to benefit from ongoing discount programs. DOE’s Oil Industry Management Bureau reports that nine major fuel companies offer discounts to PUVs, with some extending benefits to TNVS drivers and fleet operators.
Further price drops may occur in the coming weeks if Middle East stability holds. The DOE has committed to publishing fuel station discount offers and rates to help consumers maximize savings.
