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DOE: Big-time rollbacks bring fuel prices closer to prewar levels

Local fuel prices are moving “closer” to pre-Middle East crisis levels as retailers implement a major rollback, which will take effect on June 2. —NIÑO JESUS ORBETA MANILA, Philippines —

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business.inquirer.net3 mesi fa

Major rollbacks set for the 1st week of June

The Philippine Department of Energy announced fuel price rollbacks effective June 1st: diesel down at least ₱9.26/liter, gasoline ₱4.76/liter, and kerosene ₱10.86/liter, as prices approach pre-Middle East conflict levels. For energy-intensive operations and logistics-dependent tech supply chains in Southeast Asia, this eases input costs that had spiked when the Strait of Hormuz closure pushed Metro Manila pump prices to ₱170/liter.

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