Diesel price plunge: Rollback of up to ₱6.50/L seen in the Philippines next week

Manila: A major rollback in diesel fuel prices, possibly as high as ₱6.50/L, may hit the pumps next week as the fragile US‑Iran ceasefire holds in the Middle East.

The projected cut would translate into a potential savings of about $0.11–0.12 per liter (roughly $1.10–1.20 per 10 liters) for drivers, based on the current peso–dollar exchange rate.

Diesel prices

After the first four trading days this week, diesel prices could fall by ₱5.50 to ₱6.50/L, a far steeper drop than the earlier estimate of just ₱2.50 to ₱3.50/L, as per local media reports.

That means consumers who have been paying over ₱160–₱170/L for diesel since the war erupted on February 28 could see a significant short‑term relief at the pump.

Gasoline

In contrast, gasoline prices are expected to move less; local analysts say they may stay flat or drop by only about ₱1/L, roughly $0.02 per liter or $0.20 per 10 liters.

Final adjustments could still change, however, depending on the last trading session this week and how global crude prices react to the two‑week truce.

Industry officials warn that any easing in prices may be temporary, given the shaky nature of the ceasefire.

Since the conflict began, diesel prices in the Philippines have soared by as much as ₱100/L ($1.67/L) in some segments, pushing everyday transport and logistics costs sharply higher.

A rollback of up to ₱6.50/L means the war‑driven spike could start to unwind — but not back to pre‑war levels any time soon.