Camille Naredo

Fuel prices are displayed at a gasoline station in Quezon City on April 7, following another round of fuel price hikes. Maria Tan, ABS-CBN News/File

Fuel prices are displayed at a gasoline station in Quezon City on April 7, following another round of fuel price hikes. Oil companies raised gasoline prices by as much as P5.90 per liter and diesel by up to P19.80 per liter, marking one of the largest increases in recent weeks. Maria Tan, ABS-CBN News

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OIL PRICE HIKE

Harlene Delgado

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px;display:block" width="960"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/177599290682220260407-oil-price-hike-quezon-city-MT4.jpg" style="width:960px" class="fr-fic fr-dib" alt="Fuel prices are displayed at a gasoline station in Quezon City on April 7, following another round of fuel price hikes. Maria Tan, ABS-CBN News/File" width="960"/><span class="fr-inner" style="text-align:left">Fuel prices are displayed at a gasoline station in Quezon City on April 7, following another round of fuel price hikes. <em>Maria Tan, ABS-CBN News/File</em></span></span></span></div><p>MANILA -- President Ferdinand Marcos Jr. announced Sunday the estimated rollback on prices of petroleum products for next week beginning April 14—the first since month-long surging fuel prices triggered by the US-Israel strikes on Iran. </p><p>₱20.89 per liter reduction is expected for diesel, ₱4.43 per liter for gasoline, and ₱8.50 per liter for kerosene. </p><p>“Malaking tulong ito lalo na sa ating mga driver, sa mga commuter, at sa bawat pamilyang Pilipino na araw-araw naapektuhan ng mataas na presyo ng krudo,” he said in a video statement Sunday, April 12. </p><div><a href="https://www.abs-cbn.com/news/business/2026/4/12/doe-projects-diesel-prices-to-go-down-by-more-than-p20-l-1254"><strong>DOE projects diesel prices to go down by more than P20/L</strong></a> </div><p>However, Marcos Jr. admits the latest oil price reduction will not suffice. </p><p>“Hindi pa ito sapat. Kaya tuloy-tuloy ang ginagawa ng pamahalaan para maibsan ang epekto nito sa inyong pang-araw-araw na buhay,” he said. </p><p>“Hindi po tayo titigil hangga’t hindi natin napapababa ang gastos sa biyahe, sa pagkain, at sa kabuuang pamumuhay ng ating mga kababayan,” Marcos Jr. noted. </p><p>The chief executive vowed that additional measures are in the pipeline to help cushion the effects of high prices of oil on Filipinos. </p><p>“Sa mga susunod na araw at linggo, may iaanunsyo po ako na mga dagdag na hakbang at tulong mula sa gobyerno,” he said. </p><div><a href="https://www.abs-cbn.com/news/business/2026/4/10/decision-on-fuel-excise-tax-expected-out-next-week-1552"><strong>Decision on fuel excise tax expected out next week </strong></a></div><p>“Hindi natin hahayaang mapabayaan ang bawat Pilipino sa gitna ng mga hamong ito. Kaya tuloy-tuloy ang trabaho ng pamahalaan para siguradong may mararamdaman na ginhawa ang bawat pamilya. At iyan ang tinututukan natin araw-araw,” he added.</p><p>Palace Press Officer Undersecretary Claire Castro earlier said Marcos Jr. is set to announce this Monday his decision whether to suspend or reduce fuel excise tax following the effect of a law that granted him emergency powers.</p><div> </div><div><strong>RELATED VIDEO:</strong></div><div><strong><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/7HLEu6zB3Dg?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></strong><br/></div>

<p>President Ferdinand Marcos Jr. announced Sunday the estimated rollback on prices of petroleum products for next week beginning April 14—the first since month-long surging fuel prices triggered by the US-Israel strikes on Iran.</p>

President Ferdinand Marcos Jr. announced Sunday the estimated rollback on prices of petroleum products for next week beginning April 14—the first since month-long surging fuel prices triggered by the US-Israel strikes on Iran.

Marcos Jr. says oil price rollback 'not enough,' more measures on the way

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Marcos Jr. says oil price rollback 'not enough,' more measures on the way

Harlene Delgado,

ABS-CBN News

Published April 12, 2026 07:32 PM PHT

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Updated April 12, 2026 11:09 PM PHT

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Ferdinand Marcos Jr.

Oil price rollback

Petroleum products

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