MANILA, Philippines —Motorists across the Philippines may soon breathe easier at the pumps, with diesel prices expected to roll back by as much as ₱10 per liter next week, according to industry projections.

Local oil companies are preparing to announce price adjustments on Monday, April 13, with implementation set for Tuesday. The anticipated rollback comes after global oil markets stabilized following the two-week ceasefire agreement between the United States, Israel, and Iran, which reopened the Strait of Hormuz, a critical passageway for crude shipments.

Industry sources said the rollback estimates are based on trading benchmarks from the Mean of Platts Singapore (MOPS), which tracks refined oil prices in Southeast Asia. Diesel is projected to drop between ₱5.50 and ₱10.00 per liter, while gasoline may see a smaller rollback of around ₱1.00 per liter or remain unchanged. Kerosene prices are also expected to follow diesel’s downward trend.

Fuel prices had surged to record highs in recent weeks, with diesel climbing to ₱170 per liter and gasoline increasing by ₱5 to ₱6 per liter, largely due to supply disruptions caused by the Middle East conflict. The rollback, while significant, will only partially offset the steep increases that have burdened consumers and businesses since February.

Public transport operators, logistics firms, and ordinary motorists are expected to benefit most from the adjustment, as diesel is the primary fuel for mass transportation and goods delivery. Economists note that the rollback could help ease inflationary pressures, particularly on food and essential goods, which are heavily affected by transport costs.

The Department of Energy (DOE) is expected to confirm the final figures by Monday, but officials have cautioned that the relief may be temporary. The ceasefire deal is only valid for two weeks, and any resumption of hostilities in the Middle East could quickly reverse the downward trend in fuel prices.

For now, Filipinos can look forward to a welcome reprieve at the pumps, though the stability of global oil markets remains uncertain.