For the first time since the regional energy crisis began in late February, motorists in the Philippines are finally looking at a significant rollback in pump prices.
As of April 12, 2026, the Department of Energy (DOE) and industry sources have significantly revised their projections upward, turning what was a "modest reprieve" into a massive "mega-rollback" for next week.
Projected Price Cuts (Effective April 14, 2026)
Based on the latest data from the Mean of Platts Singapore (MOPS) and recent local trade monitoring, the following cuts are expected:
Diesel: A massive drop of ₱20.89 per liter.
Kerosene: A decrease of ₱8.50 per liter.
Gasoline: A reduction of ₱4.43 per liter.
Why the sudden drop?
The primary driver for this rollback is the two-week ceasefire between the United States and Iran. This temporary truce has eased immediate fears regarding the closure of the Strait of Hormuz, a critical chokepoint through which much of the world's oil flows.
Key context on the current crisis:
The "Mega-Hikes": Since February 2026, fuel prices have more than doubled. Just last week (April 7), diesel saw a staggering single-day hike of ₱19.80, while gasoline went up by ₱6.00.
Net Increases: Even with this upcoming rollback, prices remain at historic highs. Year-to-date net increases currently sit at roughly ₱54.20 for gasoline and over ₱100 for diesel.
Supply Arrivals: Relief is also being bolstered by the arrival of new supply, including over 300,000 barrels of diesel from Malaysia.
Status of Subsidies
To further assist the transport sector, the government has announced a ₱10-per-liter fuel subsidy for public utility vehicles (PUVs) to help offset the extreme costs incurred over the last two months.
While this is the first major rollback of the year, Energy Secretary Sharon Garin has cautioned that fuel prices are unlikely to return to the ₱60 per liter range anytime soon, as global supply remains volatile depending on whether the current peace talks in the Middle East hold.
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