MANILA, Philippines — In a landmark announcement for millions of Filipino motorists and commuters, President Ferdinand Marcos Jr. confirmed a “significant” rollback in fuel prices effective Tuesday, April 14, 2026.
The price cut marks the end of a grueling cycle of hikes that began in late February, triggered by the escalation of conflict in the Middle East. The adjustment is the first major rollback since the global oil crisis began to squeeze the local economy.
Based on the international price averages from the previous week, oil companies are expected to implement the following decreases:
- Diesel: A massive reduction of P20.89 per liter. This is particularly vital for the transport and logistics sectors, which rely on diesel for trucks and public utility vehicles.
- Gasoline: A cut of P4.43 per liter, providing relief to millions of private car owners and motorcycle riders.
- Kerosene: A drop of P8.50 per liter, benefiting households that use it for cooking and lighting.
In a video message released Sunday, President Marcos emphasized that while this rollback is a welcome development, the government is not yet finished.
- Further Assistance: The President hinted at additional measures to be announced in the “coming days and weeks” to help vulnerable sectors cope with the high cost of living.
- Excise Tax Decision: The Palace is currently weighing a recommendation to suspend or reduce fuel excise taxes. A decision is expected as early as April 13, following the effectivity of Republic Act No. 12316, which grants the President emergency powers to adjust taxes during energy crises.
- Kalinga Act: In Congress, Speaker Faustino “Bojie” Dy III and Majority Leader Sandro Marcos have filed House Bill No. 8834 (The Kalinga Act). This bill seeks to institutionalize a “Kalinga Program” that automatically activates fuel price stabilization and cash subsidies during national energy emergencies.
Energy Secretary Sharon Garin clarified that these figures are based on the Mean of Platts Singapore (MOPS) averages over the last five trading days compared to the previous week.
- Effective Date: The rollback will officially take effect on Tuesday morning, April 14.
- Inventory Rules: Any potential tax suspensions will only apply to incoming shipments and not to existing inventories already held by gas stations.
The massive P21-per-liter drop in diesel is expected to have a cooling effect on inflation, which has been driven higher by rising transport and food distribution costs. While global markets remain volatile due to ongoing tensions between the U.S. and Iran, this week’s domestic rollback offers a much-needed breathing room for the Philippine economy.