As November draws to a close, motorists using both diesel and gasoline will be happy to know they are entering the Christmas month with decreased fuel prices.
Oil players have announced starting Tuesday, November 29, diesel prices will be down PHP 3.95 per liter, and kerosene will fall by PHP 2.65 per liter. Meanwhile, gasoline will get another slight rollback at PHP 0.85 per liter.
These latest price adjustments will be effective as early as 12:01 AM for Cleanfuel stations, while Shell will adjust accordingly by 6:00 AM tomorrow. Other oil players are expected to release price advisories reflecting the same changes later in the day.
Last week's report from Reuters suggests the downtrend of crude oil prices are attributed to a bigger-than-expected build in US gasoline inventories, China’s strict zero-case policy that keeps global fuel demand low, and Thanksgiving holiday in the US making trading volumes thin.
Serving as the second consecutive week where fuel prices fell across the board, diesel continues to narrow its price gap compared to gasoline. Though still far from 2021 prices, tomorrow should mean diesel prices have already decreased by PHP 6.90 per liter in the last four weeks. Meanwhile, gasoline is still clawing back the PHP 2.30 increase it had two weeks ago.
So if you still have some left in the tank, tomorrow and the rest of the week should be a good time to top up and make the most out of the rollbacks, especially for motorists using diesel.