Fuel prices see-sawed this week, with some areas experiencing decreases while others faced slight increases, reflecting the complex interplay of international market forces, regional taxes, and local regulations. As of December 22, 2025, motorists are seeing varying prices at the pump depending on their location.

Global Market Influences

The price of Brent crude oil, a global benchmark, stood at $60.92 per barrel on December 22, 2025, a 0.74% increase from the previous day. However, over the past month, Brent's price has fallen by 2.88% and is down 16.13% compared to the same time last year. These fluctuations are attributed to several factors, including ongoing talks to end the war in Ukraine, which impacts market sentiment, and concerns about excess supply due to increased production by OPEC+ nations amidst slower global demand. Weak economic data from China has also added pressure on oil prices.

Regional Price Variations

Fuel prices in India are revised daily at 6 a.m. and are influenced by the cost of crude oil, oil marketing companies' costs, value-added tax (VAT), excise duty, and dealer commissions. VAT differences from state to state contribute to price variations across the country. As of December 21, 2025, petrol in Mumbai costs ₹103.54 per liter. In contrast, retail gasoline prices in the U.S. show a national average of $2.858 as of December 21, 2025.

Local Updates

• United States: The U.S. Energy Information Administration (EIA) reported that on December 15, 2025, the average price for regular gasoline was $2.895 per gallon, a decrease of $0.045 from the previous week and $0.121 from the previous year. Diesel prices averaged $3.607 per gallon, down from $3.665 the previous week but up from $3.458 a year ago. Prices vary significantly by region; for example, California has the highest gasoline prices at $4.163 per gallon, while Colorado has much lower prices at $2.294 per gallon.
• Philippines: Motorists can expect some relief with projected rollbacks of P0.60 to P0.80 per liter for gasoline and P1 to P1.20 per liter for diesel. These adjustments are attributed to robust supply and weak demand, overshadowing geopolitical spikes. These price adjustments are expected to take effect on December 23.
• Taiwan: Gasoline and diesel prices at domestic fuel stations are set to decrease by NT$0.4 per liter. Gasoline prices at CPC and Formosa stations will drop to NT$26.4, NT$27.9, and NT$29.9 per liter for 92, 95, and 98-octane unleaded gasoline, respectively. The price of premium diesel will fall to NT$24.8 per liter at CPC stations and NT$24.6 at Formosa pumps.
• Pakistan: The government decreased the high-speed diesel (HSD) price by Rs14 and kept the petrol price unchanged for the fortnight ending December 31. The ex-depot price of HSD has been reduced to Rs265.65 per liter, while the petrol price remains at Rs263.45 per liter.
• South Africa: In early December, fuel prices increased, with petrol rising by 29 cents per liter and diesel by 65 to 82 cents per liter. These increases were due to higher average oil prices and a relatively stable Rand.

Factors to Watch

Several factors could influence fuel prices in the coming weeks. These include the outcome of peace talks between Russia and Ukraine, which could lead to the restoration of disrupted Russian supply flows. Additionally, decisions by OPEC+ regarding production levels and any changes in global demand could impact prices. Monitoring these factors will be crucial for understanding future trends in petrol and diesel prices.