The Department of Energy (DOE) announced a significant rollback in petroleum prices effective Tuesday, June 23, 2026, bringing relief to motorists this week.
Price reductions per liter
Based on the DOE's estimates, the price of gasoline will decrease by P3.90 to P5.90 per liter. Diesel will see a reduction of P9.04 to P11.04 per liter, while kerosene will drop by P9.82 to P11.82 per liter.
Reason for the rollback
The rollback is attributed to developments in the international market following the signing of a memorandum of understanding between the United States and Iran last week, which aims to implement a ceasefire in the ongoing conflict between the two countries, according to the DOE.
—
