The Department of Energy (DOE) announced a significant reduction in fuel prices starting Tuesday, June 23, 2026. Gasoline prices are set to decrease by PHP3.90 to PHP5.90 per liter, while diesel will decline by PHP9.04 to PHP11.04 per liter. Kerosene prices will also be slashed by PHP9.82 to PHP11.82 per liter, according to data released by the DOE on Monday.
Oil companies implement cuts
In separate advisories, Seaoil said it will cut diesel prices by PHP9.04 per liter, gasoline by PHP3.90 per liter, and kerosene by PHP9.82 per liter. Shell also announced reductions: gasoline by PHP3.90 per liter, kerosene by PHP11 per liter, and diesel by PHP9.04 per liter.
"The adjustments today reflect last week's market," Energy Secretary Sharon Garin said in a virtual briefing.
Supply and inventory status
DOE Undersecretary Allesandro Sales said the agency continues to mandate a price range considering the logistical, operational, and pricing challenges oil companies face during their ordering cycle. He noted that most diesel and gasoline prices are already below PHP70 per liter.
"In terms of supply, we continue to enjoy a healthy inventory albeit lower compared to when we were in the middle of the crisis but still a good position," Sales said.
As of June 19, the country's total fuel inventory was sufficient for 43.86 days based on current consumption levels. Gasoline supply is projected to last for 43.75 days, diesel for 40.42 days, fuel oil for 38.21 days, kerosene for 128.96 days, liquefied petroleum gas for 42.86 days, and jet fuel for 68.30 days.
International market watch
Following reports of another closure of the Strait of Hormuz, Garin said the DOE will wait for international market reports before making an assessment.
