The Department of Energy (DOE) announced that local fuel companies will implement significant price reductions starting this week.
For the period June 16 to 22, gasoline prices may drop by ₱3.90 to ₱5.90 per liter. Diesel prices are set to go down by ₱9.04 to ₱11.04 per liter, while kerosene will decrease by ₱9.82 to ₱11.82 per liter. This marks a larger reduction compared to the adjustments allowed last week.
As of Tuesday morning, Seaoil has already confirmed the following rates: ₱3.90 per liter lower for gasoline, ₱9.04 for diesel, and ₱9.82 for kerosene.
Based on DOE data, average fuel prices in the National Capital Region are:
• RON 91 Gasoline: ₱79.80 per liter
• Diesel: ₱78.20 per liter
• Kerosene: ₱107.20 per liter
Meanwhile, total national fuel supply is projected to last 43.86 days as of June 19, slightly lower than the 46.37 days recorded last week. All fuel types, including gasoline, diesel, and LPG, showed a slight decline in available inventory days.
Energy Secretary Sharon Garin stated that these price adjustments will be effective for one week. She explained that current local pricing is based on international market trends from the previous week. Recent reports on potential disruption at the Strait of Hormuz will only affect local prices starting next week, as market changes take time to be reflected locally. Garin noted that it is still too early to predict adjustments for the coming week due to ongoing global developments.
