Fuel Rollback Alert: Diesel May Drop Up to ₱8.50/L This Week
Diesel may go down by ₱7.50 to ₱8.50 per liter, while gasoline may drop by ₱4 to ₱5 in the first week of June.
Good news for motorists: fuel prices are expected to take a big rollback in the first week of June, giving drivers and households some breathing room after last week’s pump price hikes.
According to GMA News Online, an oil industry source said diesel prices may go down by around ₱7.50 to ₱8.50 per liter, while gasoline may be reduced by about ₱4.00 to ₱5.00 per liter.
The estimate was based on Mean of Platts Singapore prices, foreign exchange averages, and shipment costs from May 25 to 29. Official price adjustments are usually announced by fuel companies every Monday and implemented the following day.
The expected rollback comes after oil firms raised prices effective May 26, with gasoline up by about ₱1.43 to ₱1.60 per liter, diesel up by ₱1.85 to ₱2.00 per liter, and kerosene up by ₱0.83 to ₱1.45 per liter.
GMA reported that the possible price cut is tied to easing tensions between the United States and Iran and optimism over the reopening of the Strait of Hormuz. DOE data cited in the report still shows fuel prices remain sharply higher for the year, with net increases of ₱49.72 per liter for gasoline, ₱46.84 for diesel, and ₱40.50 for kerosene. Source: GMA News Online
