Fuel prices are poised for another round of cuts this week, according to a local fuel retailer, marking continued downward adjustments that will ease fuel‑related costs for motorists, households, and businesses nationwide.
Leo Bellas, president of Jetti Petroleum, shared the projected price drops on Sunday, estimating gasoline may go down by P2.70 to P3.00 per liter, while diesel could fall by P4.50 to P4.80 per liter. Bellas said the forecasts were calculated using the Mean of Platts Singapore benchmark, average foreign‑exchange rates, and other market factors.
Bellas explained that diplomatic developments have been pushing global oil prices lower this week, even as supply risks remain present. He added that renewed fears of supply disruption, stemming from attacks targeting Saudi energy infrastructure and increased risks for shipping passing through the Strait of Hormuz, have recently triggered a rebound in global oil costs, creating uncertainty for future price movements.
Last week, the Department of Energy (DOE) permitted local fuel firms to roll back prices by P16.80 per liter for gasoline, P4.10 per liter for diesel, and P3.70 per liter for kerosene. DOE data for the November 3‑9, 2026 period showed National Capital Region rates averaging P89.10 per liter for RON 91 gasoline, P93.30 per liter for diesel, and P122 per liter for kerosene.
Current fuel rates remain significantly higher than levels recorded before the Middle‑East conflict impacted local fuel markets. DOE records from February 24 to March 2 this year listed NCR average prices at P53 per liter for RON 91 gasoline, P60.79 per liter for diesel, and P84.67 per liter for kerosene.
The expected price cut translates to immediate savings for daily motorists, public transport operators, delivery businesses, and households relying on fuel‑powered utilities, though analysts continue to watch Middle‑East tensions closely as these geopolitical risks can quickly reverse the downward fuel trend.
