MANILA — Motorists may soon experience much-needed relief as a significant rollback in fuel prices is expected this week, following a series of increases in recent weeks.

According to Department of Energy Secretary Sharon Garin, the projected price decrease is based on the movement of international oil prices over the past five days compared to the previous week.

Initial estimates indicate that diesel prices could drop by as much as ₱20 per liter, while gasoline may decrease by around ₱4 per liter, marking one of the biggest rollbacks recorded in recent months.

The anticipated rollback comes after weeks of steady fuel price hikes driven by volatility in global oil markets, largely influenced by geopolitical tensions affecting supply chains.

Energy officials said the downward adjustment reflects easing global prices, offering temporary relief to consumers and transport operators who have been grappling with rising fuel costs.

Despite the expected rollback, authorities caution that prices may remain unstable. President Ferdinand Marcos Jr. earlier noted that while price cuts are welcome, additional measures may still be needed to address the broader impact of fluctuating fuel costs on the economy.

The Department of Energy continues to monitor global oil trends as it works with industry players to ensure fair pricing and stable supply in the coming weeks.

📷 Department of Energy FB