Philippines: Diesel slashed by ₱12.94/L as DOE moves to cushion Filipinos from global oil shock

Manila: Philippine motorists are set to see one of the year’s biggest fuel price cuts after the Department of Energy announced a sharp rollback in diesel and kerosene prices effective today (Tuesday, April 28, 2026), even as global oil markets remain volatile due to tensions in the Middle East.

Energy Secretary Sharon Garin said diesel prices will drop by ₱12.94 per litre,.

Estimated pump prices ranging from ₱75.93 ($1.25) to ₱101.96 ($1.68) per litre depending on location.

Kerosene prices will fall even further, by ₱15.71 per litre, with adjusted prices between ₱125.39 and ₱147.98.

Gasoline prices, however, will edge up by ₱0.53 per litre.

“There will be a rollback tomorrow at ₱12.94 minimum. The estimated pump price range for diesel is ₱75.93 to ₱101.96,” Garin told local media on Monday (April 27), noting that prices vary by station depending on delivery distance from fuel depots.

Pump prices had climbed steadily since late February after escalating tensions involving the United States, Israel and Iran disrupted global oil supply routes and pushed up international crude benchmarks.

Diesel shipments via PNOC

To stabilise local supply, the DOE said four diesel shipments arranged through the Philippine National Oil Company (PNOC) have arrived in the country, totaling about 178 million liters — enough to cover roughly five days of buffer stock.

The shipments arrived in phases: more than 22.6 million liters from Japan docked in Batangas on March 26, while two deliveries totaling over 103 million litres were received in Subic.

A final shipment of more than 52 million litres arrived in Davao.

“The arrival of all four diesel shipments shows that the government is acting with urgency to protect the country’s fuel supply,” Garin said.

“As the Middle East conflict continues, our priority is to ensure the Philippines remains prepared, adequately supplied, and able to respond swiftly to developments that may affect fuel availability and market stability.”

The rollback offers temporary relief to transport operators, businesses and households that have absorbed weeks of rising fuel costs amid global uncertainty.

The Philippines' Department of Energy said Monday that the country continues to have ample fuel reserves despite volatility in global oil markets.

Speaking at an online briefing, Energy Secretary Sharon Garin said that as of April 24, the country holds an average of 54 days’ worth of fuel supply across key products.

DOE data showed petrol/gasoline stocks sufficient for 53.01 days, diesel for 54.61 days, kerosene for 168.74 days, jet fuel for 70.83 days, fuel oil for 67.55 days, and liquefied petroleum gas (LPG) for 38.44 days.

“These are good numbers. LPG is slowly increasing, especially since we have already placed a consolidated order with some of our oil companies from a supplier in the US. So we have an order coming in May,” Garin said.

Four diesel shipments secured under the government’s Emergency Energy Security Program have arrived, amounting to a combined 178.33 million litres helping reinforce the country’s buffer supply amid ongoing geopolitical tensions, particularly in the Middle East.

The agency said the deliveries reflect the implementation of Executive Order No. 110 issued by President Ferdinand R. Marcos Jr., which mandates urgent and targeted measures to protect domestic energy supply during periods of heightened uncertainty.

The first shipment — 142,531.23 barrels, or about 22.66 million liters of diesel sourced from Japan — arrived in Batangas on March 26, 2026, the DOE said.