The various fuel companies will roll out mixed price changes on Tuesday, including a ₱0.20-per-liter increase for gasoline and significant rollbacks of ₱2.90 for diesel and ₱3.20 for kerosene.
This will be the biggest weekly diesel price cut of the year, matching the rollback recorded on April 15. For kerosene, it will be the second-largest decrease, after the ₱3.30 rollback also seen on April 15.
Industry officials say the reductions are driven by market correction amid hopes of a U.S.-brokered ceasefire in Ukraine. But Jetti Petroleum president Leo Bellas warned it is too early to tell whether the downtrend will hold, noting that tight global diesel supply and rising demand toward winter could push prices back up.
Seaoil, Jetti, and PTT will adjust prices beginning 6:00 a.m., followed by Caltex at 6:01 a.m.
Last week, fuel firms implemented mixed changes: gasoline dropped by ₱0.20, while diesel and kerosene rose by ₱0.60 and ₱1.30 per liter.
So far this year, fuel prices have posted net increases of ₱19.90 for gasoline, ₱21.75 for diesel, and ₱6.75 for kerosene.
DOE data from November 25 to Dec. 1 in Metro Manila show pump prices averaging ₱55.50 for RON 91 gasoline, ₱60.65 for diesel, and ₱82.85 for kerosene.
