Diesel and kerosene prices were rolled back on Tuesday, with diesel dropping by P2.90 per liter and kerosene by P3.20 per liter, while gasoline rose slightly by 20 centavos per liter.
Local oil sources attributed the adjustments to expectations of a US-brokered ceasefire between Russia and Ukraine.
Analysts warned that the price cuts may be temporary due to ongoing sanctions on Russia, which continue to limit fuel supply.
Diesel supply is expected to tighten further with rising demand heading into the winter months, potentially pushing prices up again.
Gasoline could also face upward pressure due to supply constraints, according to Jetti Petroleum President Leo Bellas.
Source: PhilNews24 | December 2, 2025
