OIL PRICE WATCH as of June 23, 2026

Fuel prices in the Philippines are dropping significantly this week, offering some relief to drivers who have been dealing with fluctuating costs for weeks. Oil companies have reduced gasoline prices by P4 to P5 per liter, diesel by P8 to P10 per liter, and kerosene by P9 to P11 per liter. This move comes in response to recent volatility in the global oil market, and it's crucial because it directly impacts consumers' budgets and the broader economy, especially in a country where transportation costs are a major expense for many households.