Big-time pump price rollback set Tuesday, June 23, 2026

Motorists will get a breather this week, as fuel retailers are set to implement rollbacks after the United States and Iran signed a memorandum of understanding on a ceasefire agreement last week, signifying stabilizing relations.

The Department of Energy (DOE) has prescribed the following rollbacks for the week starting Tuesday, June 23, 2026:

• Gasoline — P3.90 to P5.90
• Diesel — P9.04 to P11.04
• Kerosene — P9.82 to P11.82

The actual adjustments will take effect on Tuesday, June 23, 2026.

An oil industry source earlier projected rollbacks of P4 to P6 per liter for gasoline and P9 to P11 per liter for diesel this week, citing the stabilizing relations between the United States and Iran.

Firms last week cut gasoline prices by as much as P0.32 per liter, while some raised prices by up to P1.68. Diesel prices, meanwhile, were reduced by P3.71 to P5.71 per liter, while kerosene prices dropped by P0.50 to P2.50 per liter.

This brought year-to-date adjustments to a net increase of P47.02 per liter for gasoline, P39.71 per liter for diesel, and P37.30 per liter for kerosene as of June 16, 2026.

Latest data available from the Department of Energy (DOE) show that the country’s fuel inventory was equivalent to 43.86 days as of June 19, 2026 — gasoline at 43.75 days, diesel at 40.42 days, kerosene at 128.96 days, jet fuel at 68.30, fuel oil at 38.21, and liquefied petroleum gas (LPG) at 42.86 days. — RSJ, GMA News