By Alexia Bangayan

On Thursday, April 16, the Department of Energy (DOE) Secretary Sharon Garin announced that motorists may see a possible rollback in fuel prices next week as international oil markets begin to ease.

Garin explained that recent movements in global crude oil trading indicate a drop in prices, which could lead to lower fuel prices locally if the trend continues.

However, she emphasized that the situation remains uncertain, as prices may still change depending on how many trading days remain before the next price adjustment. 

Moreover, Energy Undersecretary Alessandro Sales said that current geopolitical tensions have yet to significantly affect market pricing.

”Even with the pronouncement of [United States President Donald] Trump that he stationed his warships at the opening of the Strait of Hormuz, apparently the market is not pricing that in,” he said.

If the market trend holds, Filipinos may experience more stable fuel prices or possible reductions, with diesel prices potentially decreasing by around P14 to P15 per liter and gasoline by about P1.50 to P2.50 per liter.

Garin also pointed out that the ceasefire in the Middle East has helped ease prices in global oil prices, though she warned that any sudden dispute may reverse the gains.

She assured the public that the country has enough fuel supply, estimated to last about 50 days, supported by continuous weekly deliveries.

At the same time, the government is reviewing fuel-related policies, including possible adjustments to excise taxes on petroleum products.