MOTORISTS will welcome significant relief at the pump as fuel retailers roll back prices by as much as ₱4.88 per liter starting Tuesday, August 11.
The Department of Energy (DOE) confirmed in an advisory that gasoline prices will decrease by ₱4.70 per liter, while diesel will go down by ₱4.30 per liter. Kerosene users will see the largest reduction, with prices falling by ₱4.88 per liter across the country.
The substantial price drop is being driven by two key developments in global and domestic markets, according to Jetti Petroleum President Leo Bellas.
He cited easing geopolitical tensions between the United States and Iran as a major factor, which has raised hopes of reduced supply risks and pushed international crude oil prices downward. Compounding this downward trend, the Philippine peso has strengthened against the US dollar, making imported fuel less expensive and further bringing down domestic pump prices.
The price rollback marks one of the most significant reductions in recent months, offering relief to commuters, transport operators, and businesses alike. Lower fuel costs are expected to ease operational expenses and help temper inflationary pressures across various sectors. Industry observers will continue monitoring both the US‑Iran diplomatic situation and the peso’s performance to gauge whether this downward trend will be sustained in the coming weeks.
metrosundaily
