The Department of Energy (DOE) signaled another round of fuel price rollbacks next week, with diesel prices potentially dropping by around PHP 20 per liter, based on recent global price movements discussed during a virtual press briefing on April 15.

Estimates presented during the briefing also showed gasoline prices may decline by about PHP 4 per liter, while kerosene could see a reduction of roughly PHP 8.50 per liter.

DOE officials said the projected adjustments are based on week-on-week changes in international benchmark prices, along with other cost components.

“We compare week 1… and the current movement of MOPS… including premiums, freight, insurance, and exchange rate,” said DOE Oil Industry Management Bureau Director Rino E. Abad.

For public utility vehicle (PUV) drivers, the expected relief could be even greater. With the ongoing PHP 10 per liter fuel discount program, diesel users, particularly jeepney drivers, may see a combined reduction of around PHP 30 per liter when factoring in both the rollback and subsidy.

“As of today… we have a rollback on diesel of about PHP 20 and an additional PHP 10 discount… so PHP 30 will be deducted per liter,” Energy Secretary Sharon S. Garin explained during the briefing.

Despite ongoing geopolitical tensions, especially developments in the Middle East, the DOE said global oil markets have so far remained stable, with prices continuing to trend downward.

“As of today… the MOPS are still going down… the market is not pricing that in,” Abad said, referring to the limited market reaction to recent international developments.

The department also assured that the country’s fuel supply remains sufficient, with inventory levels averaging around 50 days.

“As of April 10… our average is 50.31 days,” Garin said, noting that supply remains stable despite global uncertainties.

DOE officials said they will continue to monitor global price movements and developments that may affect local pump prices in the coming weeks.

As fuel prices show signs of easing, how sustainable are these rollbacks amidst ongoing global uncertainties?

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