Energy Secretary Sharon Garin on Monday, July 6, 2026, expressed hope for the stabilization of domestic fuel prices given the decline in global oil prices to below US$80 per barrel.
Garin comments on oil price outlook
Speaking at an online briefing, Garin said it may take some time for crude oil prices to return to pre-war levels. “It won’t happen in just one week or two weeks. It might take time. It might even take a few weeks or a few months. But I think the worst is over. Hopefully, we can start adjusting the price as well, to adjust to the pre-war price,” she added.
Price adjustments for the week
During the same briefing, Garin said the price adjustment for this week is between a rollback of up to P1.75 per liter and a hike of P0.25 per liter for gasoline. Diesel price movements for this week are a hike of between P1.57 per liter and P3.57 per liter and kerosene, up between P1.70 per liter and P3.70 per liter.
Oil companies announce changes
Seaoil, in an advisory, said it will increase gasoline prices by P0.25 per liter, diesel by P3.30 per liter and kerosene by P1.75 per liter, effective 6 a.m. Tuesday, July 7. Petron, in turn, said it will adjust prices at the same time, specifically by P0.20 per liter for gasoline, P3.30 per liter for diesel and P1.70 per liter for kerosene.
