Fuel prices are coming down today, giving motorists some relief during Christmas week.
The various fuel retailers have cut prices across all petroleum products. Gasoline prices drop by P0.80 per liter, diesel by P1.30 per liter, and kerosene by P1.60 per liter.
Major oil companies such as Petron, Caltex, Seaoil, and Jetti apply the adjustments at 6:00 a.m. today.
Jetti Petroleum president Leo Bellas said the rollback is driven by global factors, including excess crude supply, easing supply concerns as refineries resume operations after maintenance, and expectations of weaker fuel demand during the winter season. Possible progress toward a Russia-Ukraine ceasefire, which could restore oil supply flows, also weighed on prices.
Despite today’s cuts, fuel prices remain higher overall this year. Year-to-date, gasoline prices are still up by P20.50 per liter, diesel by P20.45, and kerosene by P5.15.
Based on the latest Department of Energy data, fuel prices in Metro Manila from December 16 to 22 average P55.70 per liter for gasoline, P53.30 for diesel, and P79.47 for kerosene.
