The Department of Energy (DOE) on Monday announced a significant rollback in the prices of petroleum products, set to take effect on Tuesday, August 11.

In an advisory, the DOE said gasoline prices will be reduced by ₱4.70 per liter, while diesel prices will drop by ₱4.30 per liter. Kerosene will see the biggest cut, with a rollback of ₱4.88 per liter.

The adjustments will apply for the period of Aug. 11 to 17, 2026.

The DOE said the price reductions reflect movements in the global oil market, influenced by ongoing developments in the Middle East that continue to affect global supply and pricing.

Despite the volatility, the agency said it remains committed to ensuring sufficient oil supply and safeguarding consumer welfare.