Motorists, especially those loading up diesel, can get another relief in their fuel expenses this week as the prices of petroleum products in the domestic pumps sustained cuts.

In separate advisories on Monday, local oil companies announced that diesel prices will roll back by a hefty P3.95 per liter and kerosene by P2.65 per liter.

Gasoline prices will also decline but by a minimal P0.85 per liter only.

Assistant Director Rodela Romero, Oil Industry Management Bureau of the Department of Energy, said the price reductions were driven by the lower regional demand and the return of the Covid-19 lockdown in China due to the resurgence of infections.

Romero said the higher crude inventory and the price cap imposed on Russian crude also contributed to the cost downswing.

Based on the oil monitoring data from the Energy Department, the cumulative increase in gasoline price as of 22 November stood at P18.15 per liter, diesel at P36 per liter, and kerosene at P29.95 per liter.

As of 26 November, the price per liter of gasoline ranges from P60.60 to P71.10 liter in Quezon City, Metro Manila's largest city.

Diesel prices, meanwhile, range from P70.05 to P76.80 per liter in Makati City, the country's top financial hub. In Manila, kerosene sells from P78.36 to P88 per liter.

Oil companies announce price adjustments every Monday to be implemented Tuesday.

They adjust their prices weekly based on the movement of the Mean of Platts Singapore — the regional pricing benchmark adopted by the deregulated downstream oil sector.