After two straight weeks of pump price hikes, Filipino motorists may finally catch a break: world crude oil prices have eased sharply since Aug 24, and oil companies are likely to roll back prices next week. The big question is how much a full tank will finally cost.
Why a rollback looks likely
From August 24 to 26, oil prices dropped by P3.50 per liter for diesel and kerosene and P1.10 per liter for gasoline in the world market, according to ABS-CBN News. Industry players are still watching how new economic sanctions against Iran will play out before locking in the weekly adjustment.
How much prices have climbed
The easing comes after two straight weekly increases. In the Aug 25 adjustment, gasoline rose P1.08 per liter, diesel P2.31, and kerosene P0.95, the Department of Energy said. Over the past two weeks, hikes have reached P6.20 per liter for diesel, P3.60 for gasoline, and P6.00 for kerosene.
| Product | Crude drop since Aug 24 | Last week’s hike (Aug 25) | Two-week climb total |
|---|---|---|---|
| Diesel | down P3.50/L | +P2.31/L | +P6.20/L |
| Gasoline | down P1.10/L | +P1.08/L | +P3.60/L |
| Kerosene | down P3.50/L | +P0.95/L | +P6.00/L |
The crude drop is the basis for the DOE’s next weekly estimate, not a confirmed pump adjustment.
The subsidy safety net
Energy Secretary Sharon Garin earlier assured that the increases reflect price pressure, not a supply shortage. The fuel subsidy for PUV operators will be extended through September, and the discount was raised from P10 to P12 per liter starting Aug 15.
What to watch next
The DOE announces the next pump adjustment every Tuesday. If crude holds its decline, this week’s easing could break a run of hikes that began in mid-August and give commuters and operators a rare reprieve, following the sharp increases seen on Aug 18.
