The Department of Energy (DOE) said diesel and kerosene prices are expected to drop on Tuesday, June 16, according to a report by Philstar Biz. The projected decline would bring fuel costs back to pre-war levels seen before the Russia-Ukraine conflict.
The anticipated rollback follows months of elevated prices triggered by geopolitical tensions and supply disruptions. For consumers, lower diesel and kerosene prices could ease transportation costs and reduce expenses for households reliant on these fuels for cooking and lighting.
The DOE did not specify the exact amount of the price cut but indicated it reflects global market trends. Other fuel products such as gasoline may also see adjustments in the coming weeks as international crude oil prices stabilize.