BUSINESS

Pump prices to dip slightly after weeks of steep hikes

Maria Bernadette Romero · Aug 3, 2026, 12:59 PM

PUMP pain returns Motorists queue at a gasoline station along Soriano Avenue in Manila as the Department of Energy announces another sharp increase in pump prices, driven by renewed tensions in the Middle East that continue to rattle global oil markets. — PHOTOGRAPH by toto lozano for DAILY TRIBUNE

Motorists will catch a slight break this week as oil companies are set to trim pump prices, the first rollback after weeks of hefty increases.

Energy Secretary Sharon S. Garin said Monday that motorists can expect minimum fuel price rollbacks of P0.73 per liter for all gasoline grades, P0.60 per liter for diesel and diesel plus, and P2.09 per liter for kerosene this week.

If fully implemented, prevailing pump prices in Metro Manila are expected to ease to around P68.97 to P99.17 per liter for gasoline, depending on the grade, while diesel prices could range from P79.29 to P98.20 per liter.

Diesel Plus is projected to retail between P90.70 and P103.90 per liter, while kerosene prices could settle at P102.91 to P136.01 per liter.

The modest rollback comes after last week’s steep fuel price hikes, in which oil companies raised gasoline by P6.80 per liter, diesel by P7.32 per liter, and kerosene by P4.22 per liter, driven by heightened geopolitical tensions that pushed global oil prices higher.

Despite the reduction, pump prices remain elevated compared with levels before the recent surge, meaning transport and logistics costs are likely to stay under pressure.