MANILA, Philippines – President Ferdinand Marcos Jr. on Sunday, April 12, announced a significant rollback in fuel prices, calling it a much-needed reprieve for consumers still grappling with increased transport and commodity costs.

In a video statement, Marcos said that diesel is expected to drop by at least P20 per liter, gasoline by P4.43 per liter, and kerosene by P8.50 per liter. The rollback will take effect on Tuesday, April 14.

“Malaking tulong ito, lalo na sa ating mga driver, sa mga commuter, at sa bawat pamilyang Pilipino na araw-araw naapektuhan ng mataas na presyo ng krudo,” he said.

(This will be a big help, especially for our drivers, commuters, and every Filipino family affected daily by high fuel prices.)

Global oil markets have remained volatile in recent weeks amid tensions in the Middle East. The situation has contributed to fluctuations in international crude prices and, in turn, domestic fuel costs. According to the Department of Energy, the latest pump prices in the country have recently hit record levels.

Marcos acknowledged that the latest rollback remains insufficient to fully address the burden of rising expenses, and that the government will continue to implement interventions aimed at easing costs across transport, food, and basic goods.

“Hindi natin hahayaang mapabayaan ang bawat Pilipino sa gitna ng mga hamong ito, kaya tuloy-tuloy ang trabaho ng pamahalaan para siguradong may mararamdaman na ginhawa ang bawat pamilya,” Marcos said.

(We will not allow any Filipino to be left behind amid these challenges, that is why the government continues to work to ensure that every family will feel relief.)

The President said further measures are being prepared to help sustain relief for Filipino consumers in the coming days and weeks. – Rappler.com