MANILA, Philippines — President Ferdinand Marcos Jr. announced Sunday that fuel prices will decrease starting Tuesday, April 14, with diesel, gasoline, and kerosene all set for significant rollbacks, following earlier projections from the Department of Energy.
Marcos said diesel prices will drop by more than P20 per liter, while gasoline prices will decrease by P4.43 per liter and kerosene by P8.50 per liter.
The Department of Energy earlier said diesel prices could fall by as much as P20.89 per liter, with gasoline and kerosene expected to decline by P4.43 and P8.50 per liter, respectively.
Marcos said the price reductions would provide relief to drivers, commuters, and households affected by rising fuel costs, but added that further measures are needed to address broader cost-of-living concerns.
He said the government will continue implementing policies to mitigate the impact of high fuel prices on transportation, food, and other expenses and indicated that additional announcements are expected in the coming days.
Fuel prices have increased in recent weeks amid tensions in the Middle East involving the United States, Israel, and Iran. The conflict disrupted global oil supply, including shipments through the Strait of Hormuz, a key route for international energy trade.
A temporary ceasefire remains in place, though negotiations between the United States and Iran have not yet resulted in a long-term agreement.