Filipino households and businesses can look forward to significant relief at the pumps this week, with a major downward adjustment in fuel costs forecast following five consecutive weeks of mixed price trends.
Leo Bellas, president of Jetti Petroleum, confirmed Sunday that gasoline prices are projected to drop between ₱11.90 and ₱13.50 per liter, while diesel prices are expected to fall by ₱4.50 to ₱4.80 per liter. These estimated adjustments reflect the latest Mean of Platts Singapore pricing and prevailing foreign exchange rates from the past week.
Bellas explained the downward trend: diesel costs eased notably as geopolitical tensions around the Iran conflict appeared to cool, lowering the risk premium on oil markets following improved negotiation prospects after recent US midterm elections. Gasoline prices softened as crude pulled back from recent highs, while new export quotas for cleaner fuel from China raised supply expectations and pushed regional prices lower.
Last week, the Department of Energy approved a ₱3.50-per-liter increase for gasoline, but allowed reductions of ₱1.00 per liter for diesel and ₱1.90 per liter for kerosene. As of October 27 to November 2, prices in Metro Manila averaged ₱83.30 per liter for regular gasoline, ₱94.50 for diesel, and ₱123.90 for kerosene.
This week’s forecast drop carries broad benefits: lower diesel costs will ease operating expenses for transport operators, logistics firms, and delivery services—helping keep commodity and service costs stable across the supply chain. For households, the sharp fall in gasoline prices means lower daily commuting expenses and more room in family budgets, particularly as holiday spending approaches.
