Philippine Fuel Prices to Fall on June 23 With Rollbacks Up to P11.82 per Liter

Oil companies in the Philippines will lower pump prices on June 23, with gasoline falling P3.90 to P5.90 per liter, diesel P9.04 to P11.04 per liter, and kerosene P9.82 to P11.82 per liter. Energy Secretary Sharon Garin announced the adjustments during a press conference on June 22.

Before the changes, common retail prices in Metro Manila stood at P78.90 per liter for gasoline RON95, P79.80 per liter for gasoline RON91, P78.20 per liter for diesel, and P107.20 per liter for kerosene during the week of June 16 to 22, according to Department of Energy data.

Garin said the adjustments reflect last week’s market and that prices should remain steady from June 23 through the following Monday. So even if something happens today or tomorrow, prices should not change from Tuesday tomorrow until Monday next week,” she stated.

The Department of Energy reported nearly 44 days of gasoline inventory and 40 days of diesel inventory. Dubai crude prices fell about $6 per barrel in the June 8-12 trading period, while international diesel prices dropped around $10 per barrel, kerosene around $6 per barrel, and gasoline about $0.10 per barrel. -Israeli forces began on February 28.

In the last full week before that date, Metro Manila retail prices were P56 per liter for gasoline RON95, P54.70 per liter for gasoline RON91, P55 per liter for diesel, and P83.47 per liter for kerosene. The Philippines is a net importer of petroleum products, leaving domestic prices exposed to global oil movements and foreign exchange shifts.