Motorists can expect a slight rollback in pump prices on the first Tuesday of August following a series of major oil price hikes in previous weeks.

During a press briefing, Energy Secretary Sharon Garin announced that gasoline prices will decrease by at least ₱0.73 per liter, while diesel prices will be reduced by ₱0.60 per liter. Kerosene prices, meanwhile, will see a bigger rollback of ₱2.09 per liter.

The Department of Energy (DOE) said the price cuts remain limited despite recent increases, as global oil markets continue to face uncertainty due to developments in the Middle East.

Garin noted that the situation remains volatile, particularly with the lack of a permanent agreement among key countries involved in regional tensions, which continue to influence global oil prices.