Fuel prices will finally go down this week following three consecutive weeks of sharp increases, a top industry official confirmed Sunday.
Leo Bellas, president of Jetti Petroleum, said gasoline may drop by ₱0.50 to ₱1.00 per liter, while diesel is set for a much bigger fall of ₱7.50 to ₱8.00 per liter. No outlook was given for kerosene.
The turnaround comes after three weeks of steady rises totaling ₱15.25 for gasoline, ₱18.31 for diesel, and ₱16.67 for kerosene. Just last week alone, prices rose ₱4.88 for gasoline, ₱8.82 for diesel, and ₱6.47 for kerosene, per Department of Energy (DOE) data.
Prices fell because of improved hopes for diplomacy over the Iran war at last week’s UN General Assembly, plus recovering shipments from Saudi Arabia. Resumed flows through the East-West pipeline and higher shipping activity in Yanbu, Red Sea, also pulled costs lower.
The drop would have been bigger, Bellas noted, but two factors pushed prices back up: Iran’s president said his country would not yield to U.S. pressure even as it remained open to talks, and a Houthi missile attack on Saudi Arabia renewed supply disruption fears. Asian prices also saw mixed moves—gasoline fell but regional demand stayed strong; diesel eased but U.S. hints at export limits kept supplies tight.
As of September 15–21, NCR prices average ₱83.10 for RON 91 gasoline, ₱94.50 for diesel, and ₱124.50 for kerosene. Before Middle East tensions flared in late February, those same prices were ₱53.00, ₱60.79, and ₱84.67 respectively.
Lower diesel prices will directly help transport operators, jeepney and truck drivers, and commuters—easing cost pressures that have built up over weeks of rising fuel bills.
