Motorists may finally see the start of fuel price easing, albeit slow, as final trading days point to the first double-digit rollback of the year.

Based on a full week of trading on the Mean of Platts Singapore (MOPS), diesel prices are expected to drop by approximately ₱8.80 to ₱10.80 per liter, providing much-needed relief to the transport sector. Once materialized, pump prices could fall to around ₱161.20 to ₱159.20 per liter next week. Gasoline price estimates, on the other hand, point to a one-peso rollback.

Price adjustments will be announced by oil companies on Monday, April 13.

The two-week Middle Eastern ceasefire may have eased concerns in the global oil market; however, some tankers have reportedly been advised not to pay fees to pass through the Strait of Hormuz. A report from the BBC indicated that ships will still need Iran’s permission to pass through the strait; otherwise, they may be targeted.

Although the rollback is likely next week, fuel prices in the Philippines remain elevated, supply remains volatile, and some retailers and motorists have resorted to panic buying, hoarding, and theft. The Department of Energy (DOE) has put its foot down, warning delinquent retailers, companies, and individuals of criminal liabilities.

Under the DOE’s operating guidelines, commercial hoarding or consumer stockpiling will trigger a show-cause order; further violations may lead to administrative fines, registration suspension, permit revocation, and criminal liability.

To assess and verify delinquencies, the downstream oil industry will be required to submit periodic reports on petroleum inventories, supply movements, and distribution activities to monitor and detect possible hoarding.

Through these reports, the DOE will be able to track fuel collection and available inventory data to determine any possible hoarding or undue accumulation of petroleum products.

“Failure to submit the required reports, or submission of false, misleading, or incomplete information, may constitute a ground for administrative action under applicable laws,” it stated.

According to the DOE, the Department of Justice (DOJ) will provide legal support and undertake criminal prosecution for any violations found, the Philippine National Police (PNP) will handle law enforcement during inspections, and the Department of Trade and Industry (DTI) will assist in consumer protection.