Fuel prices finally roll back on September 29 after weeks of hikes

A gas station in Manila adjusts fuel prices after another round of oil price increases, with partial adjustments already in effect, on March 17, 2026.

Rappler

The price cuts are welcome news for motorists, alongside the renewed suspension of excise taxes on LPG and kerosene

AT A GLANCE

• Starting September 29, fuel prices in the Philippines will decrease after three weeks of increases, with gasoline down by P0.24, diesel by P7.57, and kerosene by P5.85 per liter.
• The rollback follows significant price hikes last week, driven by geopolitical tensions and disruptions in oil shipping routes, particularly in the Strait of Hormuz.
• Additionally, the Philippine government has suspended excise taxes on liquefied petroleum gas and kerosene for up to three months to alleviate consumer costs.

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MANILA, Philippines – Fuel prices are going down starting Tuesday, September 29 after three consecutive weeks of steep pump price increases.

In a press conference on Monday, September 28, Energy Secretary Sharon Garin announced the following fuel price adjustments for the week of September 29 to October 5:

• Gasoline – rollback of P0.24 per liter
• Diesel – rollback of P7.57 per liter
• Kerosene – rollback of P5.85 per liter

The rollback follows three straight weeks of increases. Last week alone, gasoline prices rose by P4.88 per liter, diesel by P8.82 per liter, and kerosene by P6.47 per liter.

Oil prices improved on renewed hopes for US-Iran diplomatic solutions amid the United Nations General Assembly meeting. Still, risks remain in the Middle East. Shipping traffic through the Strait of Hormuz remains lower than average, and attacks by Yemen’s Houthis threaten to further wreck Saudi energy infrastructure and Red Sea shipping.

The Strait of Hormuz, the narrow waterway between Iran and Oman, is one of the world’s most important oil shipping routes. Any disruption to tanker traffic can quickly affect global crude and refined product prices.

Excise taxes on LPG, kerosene suspended

The rollback comes alongside another government measure intended to cushion consumers from high energy costs.

President Ferdinand Marcos Jr. on Friday, September 25, ordered the full suspension of excise taxes on liquefied petroleum gas and kerosene. It does not cover gasoline or diesel.

The suspension may last for up to three months but will be reviewed regularly by the Development Budget Coordination Committee and the DOE.

The government previously suspended excise taxes on LPG and kerosene earlier this year before restoring them in July after the one-month average Dubai crude price fell below $80 per barrel.

Despite the latest rollback, local pump prices remain well above levels seen before fighting involving Iran and US-Israeli forces broke out on February 28. In the last full week before the conflict, DOE data showed common retail prices in Metro Manila at P56 per liter for gasoline RON95, P54.70 per liter for gasoline RON91, P55 per liter for diesel, and P83.47 per liter for kerosene.

The Philippines imports much of its fuel as finished petroleum products, making domestic pump prices vulnerable to movements in regional refined fuel prices, foreign exchange rates, and disruptions in international supply routes. – Rappler.com