Philippines Implements Major Fuel Price Rollback Amid Strait of Hormuz Tensions

The Philippine Department of Energy announced a fuel price rollback for the week of June 23‑29, cutting diesel by P9.04‑P11.04 per litre, gasoline by P3.90‑P5.90 per litre and kerosene by P9.82‑P11.82 per litre. Diesel prices in Metro Manila are expected to fall to around P70 per litre, with a projected range of P60.25‑P80.45. Gasoline and kerosene prices will also decline within the new ranges announced.

Energy Secretary Sharon S. Garin said weekly price adjustments are based on the previous week’s international market trading, so any immediate developments in the Strait of Hormuz will not affect the current week’s prices. She maintained that the state of national energy emergency remains in place until a clear diplomatic resolution occurs.

The rollback is intended to ease costs for motorists, transport operators, farmers, fishermen and businesses that have faced high fuel expenses, and may help temper inflationary pressures on food and essential goods. The Philippines holds about 44 days of total petroleum supply, with diesel inventories covering roughly 40 days of demand.