Fuel Prices Set for Modest Rollback Next Week Amid Global Market Shifts

Motorists can expect some relief at the pump as oil companies in the country are set to implement price rollbacks on diesel, gasoline, and kerosene next week. This marks the second consecutive week of fuel price reductions.

However, unlike this week’s rollback, the upcoming adjustments are expected to be modest. Industry analysts attribute the smaller cuts to two main factors: the decision by OPEC+ to reduce oil production by June, and uncertainties surrounding ongoing trade negotiations between the United States and other countries, which could potentially lead to an oversupply in the global market.

Estimated Fuel Price Reductions:

• Diesel: Down by ₱0.70 to ₱0.90 per liter
• Gasoline: Reduced by up to ₱0.30 per liter
• Kerosene: A larger rollback, estimated at ₱1.20 to ₱1.40 per liter

These estimates will be reviewed over the weekend, with final figures expected on Monday. The new prices will take effect on Tuesday.

The upcoming price adjustments come as welcome news to consumers and transport groups, particularly amid fluctuating global oil prices and economic uncertainty.