Philstar
Expect lower fuel prices ahead of Christmas
Motorists can expect lower fuel prices this week, with diesel prices projected to drop by at least P1 per liter ahead of Christmas.
Oil firms are expected to roll back gasoline prices by P0.60 to P0.80 per liter, diesel by P1 to P1.20 per liter, and kerosene by around P1.75 per liter.
These estimates are based on trading results in the Mean of Platts Singapore.
The Department of Energy attributes the anticipated rollback to robust supply and weak demand, which have overshadowed temporary geopolitical spikes.
Optimism over a potential peace agreement between Russia and Ukraine also contributes to the expected price reduction, with a ceasefire possibly restoring disrupted Russian supply flows.
Final price adjustments will be announced tomorrow and take effect on December 23.
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