Philippines Announces Pump Price Range Up to P1.90/Liter for Gasoline on June 30

Philippine pump prices will see either a slight rollback or increase starting Tuesday, June 30, according to an announcement by Energy Secretary Sharon Garin on Monday, June 29. The permitted price range adjustments for the week of June 30 to July 6 are: gasoline from a decrease of 10 centavos per liter to an increase of up to P1.90 per liter; diesel from a decrease of P1.16 per liter to an increase of up to 84 centavos per liter; and kerosene from a decrease of 78 centavos per liter to an increase of P1.22 per liter.

The adjustment follows renewed Middle East tensions between the US and Iran, which have reignited concerns over disruptions to the Strait of Hormuz, one of the world's most critical oil shipping routes. Global crude prices rebounded after early-week declines on ceasefire hopes. The Philippines, as a net importer of petroleum products, remains vulnerable to international oil price swings.