MANILA, Philippines — Filipino motorists and transport groups are set for a massive reprieve as domestic oil companies prepare for a significant downward adjustment in fuel prices. According to industry estimates released on Friday, April 24, 2026, diesel prices are projected to drop by as much as ₱10.00 per liter on Tuesday, April 28, marking the largest single-week price cut in nearly four years.
The anticipated rollback follows a sharp decline in global crude benchmarks as supply fears related to the Middle East crisis began to ease and global demand forecasts were revised downward.
Based on the first four days of international oil trading (MOPS), the projected price movements are as follows:
- Diesel: A rollback of ₱9.50 to ₱10.20 per liter.
- Kerosene: A decrease of ₱8.80 to ₱9.30 per liter.
- Gasoline: A more modest rollback of ₱1.50 to ₱2.10 per liter.
Department of Energy (DOE) Director Rodela Romero attributed the steep decline in diesel and kerosene prices to a combination of international market factors:
- De-escalation Premium: The “war premium” that spiked prices earlier this month has dissipated as diplomatic efforts in the Middle East signaled a lower risk of immediate supply disruptions in the Strait of Hormuz.
- Increased Inventory: Data from the U.S. and major Asian hubs showed a surprise build-up in distillate stocks (diesel and heating oil), suggesting that supply is currently outpacing demand.
- Economic Cooling: Manufacturing data from China and the Eurozone came in lower than expected, fueling fears of a global slowdown that would reduce the long-term demand for industrial fuels like diesel.
The ₱10/liter diesel cut is expected to have a significant cooling effect on local inflation:
- Public Transport: Small-scale jeepney and UV Express operators, who have been reeling from high overhead costs, are expected to see an immediate boost in daily take-home pay.
- Logistics Costs: The decrease will lower the “fuel surcharge” for trucking and delivery services, which may eventually lead to more stable prices for food and basic commodities in wet markets.
- Power Generation: Many off-grid areas in the Philippines rely on diesel-powered plants; this rollback will help mitigate the “fuel recovery” charges on upcoming electricity bills for those regions.
Despite this record-breaking rollback, fuel prices remain higher compared to the start of the year. Prior to this adjustment, gasoline had seen a cumulative increase of over ₱15.00 per liter since January 2026, driven by the earlier geopolitical volatility.
The DOE continues to remind the public that these are estimates based on trading data and that the final price adjustments—which may vary slightly between brands—will be officially announced by oil firms on Monday and implemented at 6:00 AM on Tuesday, April 28.