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Brix Lelis - The Philippine Star
June 23, 2026 | 12:00am
MANILA, Philippines — Diesel and kerosene prices may be rolled back by more than P11 per liter today, according to authorities, but motorists may miss out on the full relief as several oil firms have opted for the minimum price cut.
At a press briefing yesterday, Energy Secretary Sharon Garin said diesel prices would go down by P9.04 to P11.04 per liter, kerosene by P9.82 to P11.82 and gasoline by P3.90 to P5.90.
Garin added that the rollback will remain in effect until June 29, with no further adjustments expected during the week.
Amid easing geopolitical tensions, the Department of Energy (DOE) has relaxed fuel pricing rules by setting a range of adjustments instead of requiring a fixed pump price change.
Oil companies can now choose whether to implement the minimum price cut or the maximum adjustment prescribed by the DOE.
This week, several fuel stations such as Petron, Seaoil, Flying V, Unioil and Petro Gazz applied the minimum price cut allowed under the DOE’s new pricing framework.
Shell likewise stayed at the lower end of the adjustment range, except for kerosene, which it reduced by P11 per liter.
Energy Undersecretary Alessandro Sales said the DOE continues to stick with prescribing a price range, citing the varying logistical, operational and pricing conditions oil firms face during their ordering cycles.
“But the good news is, I think, in terms of diesel, we will now see that most diesel sold in Metro Manila will be below P70. And of course, for gasoline as well, some of it will also be below P70,” Sales said.
Following the signing of an interim agreement to end the Middle East war, global markets reacted with excitement to the expected reopening of the vital Strait of Hormuz, which typically carries about a fifth of the world’s oil and gas supplies.
This has fueled expectations of the immediate return of Middle Eastern crude to global markets.
The first round of high-level talks between the United States and Iran in Switzerland ended with “encouraging progress,” according to reports.
If the Middle East truce holds, Garin said the prescribed fuel price adjustments would be “phased out.”
“If there’s no emergency, there might be a lifting of the emergency powers. And without the emergency powers, we do not have the mandate to prescribe the adjustments.”
In terms of supply, the Philippines continues to enjoy a healthy inventory. As of June 19, the country’s average fuel inventory stood at 43.86 days, according to DOE data.
But over the weekend, Iran announced that the Hormuz Strait is closed again after tensions between Iranian ally Hezbollah and Israel flared.
Garin expressed concern over the on-again, off-again developments in the Middle East.
“So the Department of Energy has always taken the stand that we prepare for the worst and, for that, we are not letting up,” the energy chief stressed.
“We are not sitting idly about the problem in the Middle East because we cannot relax until it’s very, very clear for us that there are no disruptions caused by the Middle East war. And that can only be, not only with the agreement, but they follow through with the agreement,” she added. — EJ Macababbad
