Motorists may finally see relief at the pump as local fuel prices are projected to decrease this week, marking the first rollback following five straight weeks of price hikes.
Leo Bellas, president of Jetti Petroleum, said on Sunday that gasoline prices could drop by P1.00 to P1.30 per liter. Diesel products are also expected to see a price reduction ranging from P0.20 to P0.50 per liter. Bellas noted these estimates reflect the full five-day trading results from the global market last week.
The anticipated drop comes after a prolonged period of rising costs. Over the past five weeks, cumulative price increases reached P13.30 per liter for gasoline, P26.64 for diesel, and P21.07 for kerosene.
According to Bellas, gasoline prices softened due to a rise in regional inventories and increased exports from China, which helped offset reduced supply flows from the Middle East. However, strong summer demand and steady supply uncertainties prevented steeper price declines. Similarly, diesel and middle distillate prices fell slightly due to available exports from China and India, though ongoing refinery disruptions in the Middle East and Russia kept prices from dropping further.
The estimate did not include a price outlook for kerosene.
Department of Energy data for July 21 to 27, 2026, showed average pump prices in the National Capital Region standing at P70.30 per liter for RON 91 gasoline, P88.40 for diesel, and P117.00 for kerosene. These figures reflect a significant increase compared to earlier in the year; between February 24 and March 2, before global conflicts impacted the market, NCR pump prices averaged P53.00 for gasoline, P60.79 for diesel, and P84.67 for kerosene.
