Ukraine-Russia Conflict
Diesel prices will rollback by P2.90 per liter and kerosene by P3.20 at the start of December, according to oil firms. The changes stem from shifting global market sentiment amid Ukraine's talks with US delegates on a potential peace deal with Russia. Gasoline, however, will rise by P0.20 per liter.
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US President Donald Trump issued an ultimatum to Ukrainian leader Volodymyr Zelensky to accept a peace plan favoring Russia by Thanksgiving on November 27. The plan involves ceding Ukrainian territories and military restrictions, which Zelensky initially rejected but later showed willingness to negotiate. European powers expressed unwavering support for Ukraine.