The various fuel retailers are slashing pump prices starting Tuesday, offering a temporary reprieve for Filipino households and businesses grappling with elevated energy costs.
Price Reductions:
- Gasoline: Down by P0.40/liter
- Diesel: Down by P1.50/liter
- Kerosene: Down by P1.30/liter (varies by retailer)
Seaoil, Jetti, and Clean Fuel will implement the full rollback on gasoline and diesel, while kerosene cuts apply only to Seaoil. Caltex will reduce prices by P0.40 for gasoline and P1.00 for both diesel and kerosene.
Retailers Seaoil and Jetti will adjust prices beginning 6:00 a.m., Caltex at 6:01 a.m. and Clean Fuel at 8:01 a.m.
The price rollback is attributed to higher global production, particularly from OPEC, and uncertainties surrounding U.S. trade tariffs. Jetti Petroleum president Leo Bellas also cited optimism over diplomatic progress in Ukraine and increasing Chinese fuel exports as contributing to lower crude prices.
Bellas noted the rollback could have been larger if not for strong U.S. crude demand, as shown by larger-than-expected inventory drawdowns.
This week’s rollback follows last week’s price hike of P1.90 (gasoline), P1.20 (diesel), and P1.00 (kerosene). Despite the reduction, year-to-date prices remain significantly higher:
- Gasoline: +P10.80/liter
- Diesel: +P12.75/liter
- Kerosene: +P2.65/liter
According to the Department of Energy, fuel prices in Metro Manila from 5 to 11 August averaged P55.30/liter for RON 91 gasoline, P56.00 for diesel, and P74.90 for kerosene.
The rollback offers modest relief, especially for public transport operators, logistics firms, and low-income households still coping with inflationary pressures.
