Benise Balaoing

Motorists queue for fuel at a gas station in Pasig City on October 10, 2022, a day before a new round of oil price hike takes effect. Diesel prices is forecast to increase by P6 to P6.85 per liter, gasoline prices at P1.20 to P1.40 per liter, and kerosene prices by P3.50 to P3.70 per liter. Mark Demayo, ABS-CBN News

Article (news)

FUEL PRICE HIKE

ABS-CBN News

MANILA -- Oil prices are inching downwards in the first week of August.The Department of Energy said prices may be rolled back by the following amounts on Tuesday, August 4:Diesel - P0.60/L Gasoline - P0.73/L Kerosene - P2.09/LOil prices <a href="https://www.abs-cbn.com/news/business/2026/8/3/oil-prices-fall-nearly-5-pct-after-us-announces-new-iran-talks-0817" rel="noopener noreferrer" target="_blank">tumbled </a>on Monday in early Asia trade after US President Donald Trump announced fresh talks with Iran to end the Middle East war and reopen the Strait of Hormuz.<div>More details to follow. </div>

Oil prices are inching downwards in the first week of August.

Oil prices are inching downwards in the first week of August.

Oil prices seen declining in first week of August

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Oil prices seen declining in first week of August

Benise Balaoing,

ABS-CBN News

Published August 03, 2026 11:59 AM PHT

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oil prices

gasoline

kerosene

diesel

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