MOTORISTS will get a reprieve this week, as fuel retailers are set to implement a big-time pump price rollback after five straight weeks of increases for gasoline, and two for diesel.
The Department of Energy (DOE) yesterday prescribed a minimum rollback per liter of P4.76 for gasoline, P9.26 for diesel, and P10.86 for kerosene for the June 2 to June 8, 2026 period.
Actual price cuts – which take effect today, June 2 – may differ per company and could be larger than prescribed.
An oil industry source earlier projected big-time rollbacks this week, citing optimism over the reopening of the Strait of Hormuz, which carries around a fifth of the world’s oil, amid the easing tensions and improving sentiments between the United States and Iran.
Firms last week hiked prices per liter of gasoline by P1.60, diesel by P1.96, and kerosene by P1.45.
This brought year-to-date adjustments to a net increase of P49.72 per liter for gasoline, P46.84 per liter for diesel, and P40.50 per liter for kerosene as of May 26, 2026. (GMA News)
