Published May 30, 2026 12:04pm + Add GMA on Google Make this your preferred source to get more updates from this publisher on Google. Motorists should expect a sigh of relief as big-time rollbacks in pump prices are expected to be implemented by fuel retailers in the first week of June.Citing the Mean of Platts Singapore (MOPS), foreign exchange averages, and shipment costs from May 25 to 29, an oil industry source source said a round rollback in fuel prices are seen to be implemented as follows:Diesel - P7.50 to P8.50 per liter Gasoline - P4.00 to P5.00 per literAn industry source earlier attributed the expected pump price reductions next week to easing tensions and improving sentiments between the US and Iran, causing optimism on the prospect of Strait of Hormuz’s reopening. Fuel firms announce official price adjustments every Monday, to be implemented on the following day.This week, effective May 26, oil companies hiked the prices per liter of gasoline by P1.43 to P1.60, diesel by P1.85 to P2.00, and kerosene by P0.83 to P1.45.The latest price adjustment, the 21st movement for the year, resulted in a total net increase of P49.72 per liter for gasoline, P46.84 per liter for diesel, and P40.50 per liter for kerosene, according to data from the Department of Energy (DOE). —VAL, GMA News