Fuel Prices Drop Again Across Western Visayas

By JP Jaen, Daily Guardian Intern

Motorists in Western Visayas saw slight relief at the pump Tuesday, July 8, as major oil firms implemented fuel price rollbacks for the second straight week.

In separate advisories, Shell Philippines, Seaoil, PTT, Cleanfuel, PetroGazz and Petron announced price cuts of PHP0.70 per liter for gasoline, PHP0.10 for diesel and PHP0.80 for kerosene.

The adjustments took effect at 6 a.m. Tuesday.

The rollback followed easing tensions in the Middle East after a 12-day conflict between Israel and Iran, helping stabilize global oil prices.

A potential increase in production by the Organization of the Petroleum Exporting Countries is also expected to raise global supply and ease market rates in the coming weeks.

This week’s cuts follow last week’s bigger rollback, which saw gasoline drop by PHP1.40 per liter, diesel by PHP1.80 and kerosene by PHP2.20.

The back-to-back rollbacks come as a correction after steep hikes in late June, when prices surged by as much as PHP3.50 for gasoline, PHP5.20 for diesel and PHP4.80 for kerosene.

In Iloilo and nearby provinces, public utility drivers and small business operators welcomed the cuts but said the minimal diesel rollback offers little relief for daily expenses.

Traditional jeepney drivers continue to struggle with fluctuating fuel prices, particularly with limited rollbacks following sharp hikes in recent weeks.

“Lugi gid kami kay ang pagtaas sang kurudo dako, tapos kung magbubo, sentimos lang ang iban (We really lose out because diesel increases are large, but the rollbacks are just a few centavos),” said Rommel, a jeepney driver from La Paz district.

“Malugi kami sa amon boundary kag ang gina padala namon sa balay (We lose money to the boundary system and what we send home),” he added.

Rommel said he earns around PHP3,000 in gross daily income, but PHP1,000 goes to boundary fees and another PHP900 to PHP1,000 is spent on diesel.

That leaves him with only PHP1,000, which he uses for food, on-the-road expenses and his family’s daily needs.

Oil prices spiked above USD80 (PHP4,505.59 as of July 8) per barrel in the fourth week of June after Israel’s strike on Iran’s nuclear facilities on June 23.

Prices have since dipped below USD70 (PHP3,942.39 as of July 8) per barrel following a ceasefire.

Another key factor being watched by analysts is the scheduled end of the United States’ fuel tariff suspension on July 9, which could influence international demand and future price movements.