After several weeks of rising fuel costs, motorists can finally breathe a sigh of relief. The Department of Energy (DOE) said a fuel price rollback is likely next week based on international oil trading trends.
According to Rodela Romero, Assistant Director of the DOE’s Oil Industry Management Bureau, the estimated price adjustments are as follows:
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Gasoline: Rollback of around ₱0.17 per liter
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Diesel: Rollback of around ₱0.54 per liter
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Kerosene: Rollback of around ₱0.47 per liter
Why Prices Are Going Down
Romero explained that several global developments have contributed to the projected price drop. These include:
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Oversupply concerns as global oil production outpaces demand growth
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Increased US oil inventory levels
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Easing tensions in Gaza after Israel and Hamas agreed to the first phase of a ceasefire plan
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US government shutdown news affecting market sentiment
These factors have pushed oil prices lower in the international market — and the effects are now reaching local pumps.
A Much-Needed Break
Fuel companies are expected to announce the final price adjustments on Monday, which will take effect the following day, Tuesday.
Just this week, on October 7, petroleum retailers raised prices by ₱0.20 per liter for gasoline, ₱0.80 for diesel, and ₱0.20 for kerosene, continuing the upward trend seen in recent weeks.
For drivers and commuters alike, this upcoming rollback is a welcome breather — a small but meaningful relief from the steady climb in fuel costs.
As one motorist said, “Even a few pesos off the pump makes a big difference these days.”
