MANILA (December 15) — Motorists will see slight relief at the pump starting Tuesday, December 16, as diesel and kerosene prices go down, even as gasoline continues its steady climb for a third straight week.
Oil firms announced on Monday that diesel and kerosene prices will drop by P0.20 per liter, while gasoline prices will increase by P0.20 per liter, bringing total gasoline hikes this month to P1.60 per liter.
For public utility vehicle (PUV) drivers, delivery riders, and small transport operators, the rollback in diesel offers modest savings — though many say it barely offsets months of accumulated increases.
Despite the adjustment, year-to-date fuel price hikes remain steep, with gasoline up P21.30 per liter, diesel P21.55 per liter, and kerosene P6.55 per liter.
What it means for households
For households that rely on kerosene for cooking and lighting, the price cut brings marginal relief amid rising food and utility costs. However, the drop is unlikely to significantly ease daily expenses, especially in low-income communities where energy spending already consumes a large portion of household budgets.
Gasoline users, particularly private motorists and motorcycle riders, will feel the pinch anew as prices rise for the third consecutive week — a trend that adds to transportation costs and can ripple into higher prices of goods and services.
Why prices are moving
Industry expert Leo Bellas, president of Jetti Petroleum, said global crude oil prices have eased due to optimism over a possible Russia-Ukraine peace deal and expectations of increased oil supply as refineries resume operations after maintenance shutdowns.
The Department of Energy–Oil Industry Management Bureau (DOE-OIMB) also cited projections by the International Energy Agency (IEA) and the US Energy Information Administration, which forecast an oil supply surplus in the coming months.
The IEA estimates that global oil supply could exceed demand by 3.84 million barrels per day in 2026, a development that could help temper fuel prices in the medium term.
Still, uncertainty remains. Fresh drone attacks on Ukraine disrupted power in several regions, underscoring how geopolitical tensions continue to influence global oil markets — and local pump prices.
Current pump prices
Based on DOE monitoring, prevailing fuel prices at Metro Manila pump stations from December 2 to 8 were:
- Gasoline (RON 97/100): P67.16
- Gasoline (RON 95): P59.80
- Gasoline (RON 91): P56.20
- Diesel: P54.60
- Diesel Plus: P57.90
- Kerosene: P79.67
