Fuel prices down by over ₱4 per liter starting August 11

Motorists will see another week of relief as pump prices will be cut by more than ₱4 per liter, the Department of Energy (DOE) announced on Monday.

In an advisory, the DOE said gasoline prices will be slashed by ₱4.70 per liter across all grades—RON 91 (regular unleaded), RON 95 (premium unleaded), and RON 97 (high-octane unleaded).

Diesel prices, including Diesel Plus, will be reduced by ₱4.30 per liter, while kerosene prices will drop by ₱4.88 per liter.

The lower pump prices will be in effect from August 11 to 17.

The DOE said the price adjustments reflect movements in the global oil market.

"These changes are based on movements in the global oil market amid ongoing developments in the Middle East that are affecting global supply and prices," the DOE said.

"The (DOE) continues to take steps to strengthen the country's oil supply and protect the public's welfare," it added. — MCG, GMA News