Metro Manila, Philippines — Fuel prices will go down this week, according to industry players on Monday, Oct. 21.
Cuts in gasoline prices amount to ₱0.50 per liter. The price rollback for diesel and kerosene will be ₱0.70 and ₱0.85 per liter, respectively.
The price adjustment will be effective Tuesday, Oct. 22.
The Energy Department said the price drop may be attributed to the cooling tension in the Middle East, a major oil producer.
Other factors are potential crude surplus and weaker oil demand growth in 2025.
