DOE Eyes Big-time Oil Price Rollback on Tuesday (July 1, 2025)
FUEL PRICE UPDATE – The Department of Energy expects a big-time oil price rollback next week after two weeks of increases.
Drivers may finally get some relief at the pumps next week, as fuel prices are expected to go down after two straight rounds of significant increases. The possible rollback comes as global oil prices start to ease, following a ceasefire between Israel and Iran that helped calm worries about supply disruptions in the Middle East.
Based on recent market trends, the estimated rollback ranges from P1.00 to P1.40 per liter for gasoline, P1.60 to P2.10 for diesel, and P2.00 to P2.20 for kerosene. These figures are based on the first four days of trading data from the Mean of Platts Singapore (MOPS), a regional pricing standard used by the oil industry in Southeast Asia.
Earlier this week, oil companies increased fuel prices in two phases to ease the impact on consumers.
On June 24, they raised the price of gasoline by P1.75 per liter, diesel by P2.60, and kerosene by P2.40. The second adjustment on June 26 brought the total increases to P3.50 for gasoline, P5.20 for diesel, and P4.80 for kerosene.
The looming oil price rollback is seen as a result of falling crude oil prices now that tensions in the Middle East have cooled. Experts believe that the current stability has helped reduce the “war risk” cost that previously pushed oil prices up.
The Department of Energy (DOE) has been visiting gas stations to monitor price adjustments and check compliance with the agreed staggered hikes to ensure fair pricing and transparency.
Oil companies will make the final announcement on Monday and implement the changes the following day.
This is a developing report, just visit this website regularly or refresh the page for further updates.
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