Gasoline down by P0.70-P0.90/liter; diesel by P0.10-P0.30/liter
Motorists can expect another round of fuel price rollbacks this Tuesday, with gasoline prices set to drop by P0.70 – P0.90 per liter and diesel by P0.10 – P0.30 per liter.
The upcoming adjustments are based on the results of last week’s five-day trading window for global crude oil.
Jetti Petroleum Inc. President Leo Bellas said in a message to reporters over the weekend the ongoing decline is driven by the easing of geopolitical tensions in the Middle East, which is reducing the risk premium on both crude oil and refined products.
“The prospect of additional supply from another OPEC+ output increase, and worries about the impact on the economy and fuel demand driven by US tariff uncertainty, have also weighed on prices,” Bellas explained.
He added that recent demand concerns in the US — particularly following an unexpected build-up in crude oil and gasoline inventories — further contributed to downward pressure on global prices.
However, Bellas noted that the cuts could have been larger were it not for renewed tensions surrounding Iran’s nuclear program, which continues to stir fears of potential armed conflict in the region.
This marks the second consecutive week of fuel price reductions.
Department of Energy (DOE) data as of June 24 showed that year-to-date adjustments still reflected a net increase of P10.40 per liter for gasoline, P11.85 for diesel and P4.05 for kerosene.
From June 24 to 30, the average pump prices in the National Capital Region stood at P56.15 per liter for gasoline, P58.30 for diesel and P72.62 for kerosene, based on DOE monitoring.
