A P10/ liter rollback in prices of diesel expected next week following a two weeks ceasefire agreement between the US and Iran.

Based on the first 4 days of trading in the world market, oil prices have fallen by the following amounts:

• Diesel – P10.50/L decrease
  • Gasoline – P3.50/L decrease
  • Kerosene – P5.30/L decrease

The Department of Energy, however, said that Filipinos should not expect fuel prices to return to pre-war levels anytime soon, even if the ongoing conflict in major oil-producing regions were to stop today.

Energy Secretary Sharon Garin said global factors, including damaged oil infrastructure and rising delivery costs, will continue to keep pump prices elevated.