The Department of Energy (DOE) confirmed this week will see broad price rollbacks, with reductions starting at P4.76 per liter for gasoline, P9.26 for diesel, and P10.86 for kerosene. This comes after prices rose last week, and current rates in Metro Manila average P79.60 for regular gasoline, P82.70 for diesel, and P113.80 for kerosene. Energy Secretary Sharon Garin noted costs are nearing pre-conflict levels of P50 to P60 per liter, adding that stable conditions in the Middle East could push prices even lower. As of May 29, total fuel supply coverage rose to 45.97 days from 44.82 days the week prior, with most product inventories improving except jet fuel and fuel oil.
In a separate development, the Philippines and Japan are cooperating to build stronger fuel stockpiling systems for national and regional use. Discussions during a recent state visit outlined plans to tap the Philippine National Oil Company and Maharlika Investment Corporation to create a government-held reserve, aiming to add at least 30 days of supply beyond what private firms currently maintain. Japan will provide feasibility studies, technical training, and support from its agencies and companies, with delegations expected to visit within the year. The Philippines is also positioning itself as a hub for a regional ASEAN stockpile, while Japan will work with oil-producing nations to boost overall energy security and resilience across the region.
