Diesel Rollback May Reach P9.50/liter Next Week
Industry estimates show diesel could fall by P7.50 to P9.50 per liter and gasoline by P3 to P5 after global oil prices eased.
- On Thursday, President Donald Trump signed a peace deal with Iran while dining with French President Emmanuel Macron at the Palace of Versailles, reopening the Strait of Hormuz and triggering petrol price declines.
- The deal takes immediate effect, extending a ceasefire and giving each side 60 days to negotiate broader agreements as ending the blockade allows oil tankers to move freely through the Strait.
- RAC analysis shows the average petrol price fell by nearly 5p on Thursday, while RAC head of policy Simon Williams noted diesel prices dropped 17p, saving drivers £9.50 per fill-up.
- Drivers can expect the average pump price of petrol to drop below 150p in the next week, and Williams added that if Brent crude prices continue falling, pump costs "should get even better."
- Iranian Supreme Leader Ayatollah Mojtaba Khamenei endorsed direct negotiations in a recent statement, though Khamenei noted that future face-to-face talks do not mean accepting the "enemy's opinion.
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Diesel rollback may reach P9.50/liter next week
MANILA, Philippines – Motorists could see another fuel price rollback next week as global oil prices fell following an interim agreement between the United States and Iran, industry estimates showed. Based on the first four trading days of the week, pump prices may decline by P7.50 to P9.50 per liter for diesel and P3 to P5
Pump prices are expected to remain higher than before the war in the Middle East for some time, despite Iran and the United States having lifted their blockades of the Strait of Hormuz.
Petrol and diesel prices fall - and could keep dropping - following Iran peace deal
After the US lifted its blockade of Iran, with oil tankers now beginning to move freely through the Strait of Hormuz, it has been revealed the price of petrol and diesel has begun to fall, and could keep dropping in the coming months.
The signing of a memorandum of understanding between the United States and Iran leads to a relaxation of oil prices, after more than three months of a crisis which led French motorists to pay unprecedented sums to fill up.
A significant de-escalation has been recorded in the prices of liquid fuels in the domestic market over the last month, as a result of the gradual easing of the crisis in the Middle East and the fall in international prices ... More
Global pump price relief as ink dries on Iran-US agreement
Global pump price relief as ink dries on Iran-US agreement Fri, 06/19/2026 - 14:46 As of 19 June 2026, Brent crude is trading at around USD 80 a barrel, its lowest level since early March. Brent is now broadly flat year on year. At the pump, the relief is starting to show: the EU weighted diesel average has eased to EUR 1.783 a litre, now just 9% above the 27 February baseline. The US average diesel price has fallen to USD 1.354 per litre. Her…
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