Benise Balaoing

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

Article (news)

OIL PRICE HIKE

Alvin Elchico

ABS-CBN News

MANILA -- Another round of rollback in fuel prices is possible next week after prices of petroleum products dipped on the 3rd trading day in the world market.<div><a href="https://www.abs-cbn.com/news/business/2026/6/24/lpg-retail-prices-may-go-down-1557" rel="noopener noreferrer" target="_blank">LPG retail prices may go down</a></div>Oil prices were down by the following amounts on the 3rd day of trading on the world market:Diesel - P0.70/L downGasoline - P0.30/L downKerosene - P0.60/L downBut there are still 2 trading days left that can wipe out or increase the expected rollback for next week.For Jetti Petroleum president Leo Bellas, there is a potential rollback, but not as big as last Tuesday&#x27;s price cut. It&#x27;s either that or prices will remain unchanged.<div>TRUMP&#x27;S PROBE</div>In the US, President Donald Trump has ordered a probe into oil firms after being dismayed that fuel pump prices have not gone down as fast as world oil prices have dropped. Here in the Philippines, some motorists also feel that gas stations have been slow in slashing prices compared to world market prices.But should the Philippine government also initiate a probe against oil firms here?Energy Secretary Sharon Garin does not think so.&quot;We have been imposing prescribed price adjustments for 2 months.  The prices in our country [are] reflective of the international market prices.  We have consistently monitored and probed our domestic oil prices. That’s the extent of our jurisdiction,&quot; said Garin.For two months now, the DOE has been in charge of computing the range of weekly changes in oil prices, in consideration of the different costs incurred by oil companies. In the Philippines, fuel price adjustments are announced weekly, while in the US, prices change daily depending on the price of crude.&quot;Maybe the US market has [its] own set of problems and distortions. They address them with their own solutions, as we already do how we should in our country,&quot; Garin said.

Fuel prices down for the 3rd trading day, rollback possible next week

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Fuel prices down for the 3rd trading day, rollback possible next week

Alvin Elchico,

ABS-CBN News

Published June 25, 2026 03:40 PM PHT

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oil prices

gasoline

kerosene

diesel

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