Motorists and transport workers got a major reprieve on Tuesday, June 2, as oil companies implemented a steep rollback in pump prices nationwide.
Energy Secretary Sharon Garin said gasoline prices dropped by P4.76 per liter, diesel by P9.26 per liter, and kerosene by P10.86 per liter.
Diesel, widely used by public utility vehicles, delivery trucks, and freight operators, posted the largest cut among fuels commonly used for transport. Kerosene recorded the biggest overall rollback.
The Department of Energy said the latest price adjustment reflected movements in the international oil market, which continue to drive changes in domestic pump prices.
The rollback is expected to bring immediate savings to motorists, public transport drivers, businesses, and households that rely on fuel for daily operations.
Garin said the price cuts took effect Tuesday and should be reflected in pump prices across participating fuel stations nationwide.
The DOE said lower fuel prices could help ease transportation and operating costs, offering temporary relief to consumers amid continued volatility in global energy markets.