A significant rollback in fuel prices will take effect starting tomorrow, June 23, following favorable global market conditions, the Department of Energy (DOE) announced.
Diesel prices are set to decrease by ₱9.04 to ₱11.04 per liter, gasoline by ₱3.90 to ₱5.90 per liter, and kerosene by ₱9.82 to ₱11.82 per liter.
During a press briefing, Energy Secretary Sharon Garin said the adjustments were driven by improved market conditions recorded in the previous week.
Oil companies are required to implement the government-mandated price adjustments under the ongoing state of national energy emergency.
The DOE also reported that the country’s fuel inventory remains sufficient, with stocks projected to last up to 43.86 days as of June 19.
