Marcos Announces Fuel Price Cuts, Asks Oil Firms to Comply Promptly

Why It Matters

The cuts lower commuting costs and increase consumer spending power, while testing oil firms' compliance and the administration’s ability to deliver rapid economic relief.

Key Takeaways

• President Marcos announces bigger fuel price cuts effective next week.
• Diesel price to drop roughly Php2,494 per liter, unprecedented reduction.
• Gasoline falls Php3.41 per liter; kerosene reduced by Php2.
• Oil companies ordered to implement rollbacks fully, without delay.
• PUV drivers receive Php10 discount; licenses extended three months.

Summary

President Ferdinand Marcos Jr. used a televised address to announce a new round of fuel price reductions slated for the coming week, promising deeper cuts than the previous week’s rollback. Diesel will be lowered by roughly Php2,494 per litre, while gasoline will see a Php3.41 per‑litre cut and kerosene a Php2 reduction, marking a significant relief for commuters and businesses.

The president urged oil firms to execute the price rollback in full and without delay, stressing that the savings must reach every Filipino. He also reaffirmed the continuation of a Php10 discount for public utility vehicles (PUVs) and the ongoing service‑contracting program for PUV drivers. In parallel, the Department of Transportation announced a three‑month extension on driver’s licenses, student permits, and vehicle registrations, eliminating fines for expirations through July.

Marcos emphasized, “Each cent we lower must be felt by every Filipino,” and opened the Department of Energy’s office for public complaints, promising swift action against any violations. The address highlighted the administration’s focus on time‑sensitive relief, noting that long queues and travel delays cost citizens precious hours.

If implemented as promised, the cuts could lower transportation costs, boost household disposable income, and provide a short‑term stimulus to the economy. Oil companies, however, will face tighter margins, while the government’s swift policy response may bolster its political standing ahead of upcoming elections.

Original Description

President Ferdinand R. Marcos Jr. on Saturday announced big fuel price cuts next week and enjoined oil companies to fully and promptly implement the same. | 🎥 : Presidential Communications Office

Read more: https://newsinfo.inquirer.net/2214580/marcos-announcement-of-rollback-in-fuel-products

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