Price Tracker: Oil, fuel monitor for June 2

MANILA, Philippines — Fuel prices are set for a steep rollback this week, with diesel dropping by more than P9 per liter and gasoline by nearly P5 per liter starting Tuesday, June 2.

The Department of Energy announced the following price cuts effective June 2:

• Diesel: down by P9.26 per liter
• Kerosene: down by P10.86 per liter
• Gasoline: down by P4.76 per liter

Energy Secretary Sharon Garin said the rollback brings pump prices closer to levels seen "pre-war," or before the escalation in global oil prices in March after the United States and Israel attacked Iran, causing a chokehold on supply routes.

The new pump prices will cover the June 2 to 8 trading week.

The drop in pump prices, however, will not extend to liquefied petroleum gas.

The DOE also announced a P3.41-per-kilogram increase in LPG prices.

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