The Department of Energy (DOE) confirmed fuel companies will roll back pump prices sharply this week, with cuts exceeding P4 per liter across all major products.
Announced Monday, the approved adjustments are P4.70 per liter for gasoline, P4.30 for diesel, and P4.88 for kerosene. This follows last week’s reductions of P0.73 for gasoline, P0.60 for diesel, and P2.09 for kerosene. Combined over two weeks, prices have fallen by a total of P5.43 per liter for gasoline, P4.90 for diesel, and P6.97 for kerosene.
As of now, only Seaoil has confirmed it will apply the full cuts starting 6 a.m. on August 11.
Based on DOE data for August 4–10, prices in the National Capital Region average P78.20 per liter for RON 91 gasoline, P88.80 for diesel, and P117 for kerosene before this week’s rollback.
Leo Bellas, president of Jetti Petroleum, explained that this week’s drop came from falling crude prices on hopes of improved Middle East shipping conditions. He noted that relaxed export rules in China also increased regional supply and eased price pressures. However, Bellas warned that renewed uncertainty over the Strait of Hormuz and persistent supply tightness have since pushed crude prices higher again, pointing to possible rebounds ahead.
