(PNA photo by Joan Bondoc)
Several oil companies will implement fuel price rollbacks on Tuesday in anticipation of oversupply in the first quarter of 2026.
Seaoil and Jetti Petroleum said in separate advisories that gasoline prices will drop by PHP0.80 per liter, while diesel will be reduced by PHP1.30 per liter, effective 6 a.m. on December 23.
Seaoil added that kerosene prices will also fall by PHP1.60 per liter starting the same day.
Caltex announced similar cuts, with gasoline down by PHP0.80 per liter, diesel by PHP1.30 per liter, and kerosene by PHP1.60 per liter, effective 6:01 a.m. on December 23.
The companies cited global oversupply expectations and market forecasts as key reasons for the rollback.
Analysts said the potential for a Russia-Ukraine ceasefire could also ease crude oil prices and influence retail fuel costs.
Consumers are encouraged to take note of the scheduled reductions when planning fuel purchases for the holidays.
The Department of Energy monitors oil price adjustments to ensure transparency and fair market practices.
Fuel stations nationwide are expected to update their pumps early Tuesday morning to reflect the new prices.
This rollback follows previous price reductions in recent weeks amid continuing volatility in global oil markets.