The Department of Energy-Mindanao Field Office (DOE-Mindanao) has announced a substantial rollback in petroleum product prices for the week of June 23 to 29, with projected reductions significantly larger than those implemented during the previous week.
In an advisory issued on June 22, the DOE's Oil Industry Management Bureau projected gasoline prices to decrease by P3.90 to P5.90 per liter, diesel by P9.04 to P11.04 per liter, and kerosene by P9.82 to P11.82 per liter.
Comparison with previous week
The anticipated adjustments represent a marked increase from the June 16–22 fuel price movements. During the previous week, diesel prices declined by only P3.71 to P5.71 per liter, while kerosene prices fell by P0.50 to P2.50 per liter. Gasoline prices, meanwhile, posted mixed movements ranging from a P0.32-per-liter rollback to a P1.68-per-liter increase, depending on the fuel retailer and location.
If fully implemented, the June 23–29 rollback would be among the largest fuel price reductions recorded this year, particularly for diesel and kerosene, both of which are expected to see double-digit per-liter decreases.
Projected reductions by fuel type
Under the DOE's latest projection, all gasoline grades — including RON 91, RON 95, and RON 97 — are expected to decline by between P3.90 and P5.90 per liter. Diesel and Diesel Plus products are projected to decrease by P9.04 to P11.04 per liter, while kerosene prices may drop by P9.82 to P11.82 per liter.
The significant rollback is expected to provide much-needed relief to motorists, public utility vehicle operators, freight companies, farmers, fisherfolk, and businesses that rely heavily on fuel. Diesel, in particular, plays a crucial role in transportation and logistics, making its price movements a key factor in the cost of moving goods and services across the country.
Economic implications
DOE reiterated before that the larger rollback could help ease transportation expenses and reduce distribution costs, potentially tempering inflationary pressures and contributing to more stable prices of basic commodities in the coming weeks.
The projected reductions follow weeks of volatility in global oil markets. Earlier this month, consumers faced a series of fuel price increases driven by concerns over international supply disruptions and geopolitical tensions. However, recent declines in global crude oil prices have paved the way for the anticipated domestic rollback.
The DOE clarified that the figures represent the permitted range of fuel price adjustments for the June 23–29 trading week. Actual pump price changes will still depend on the official announcements of oil companies, which are expected to implement the adjustments beginning Tuesday.
