13 hours ago
2
Brix Lelis - The Philippine Star
March 18, 2025 | 12:00am
This photo shows oil pumps in a gasoline station in Manila.
Boy Santos
MANILA, Philippines — Fuel prices are set to decline once again today, marking a third straight week of cuts for diesel and kerosene.
Shell, Caltex and Seaoil will roll back diesel and kerosene prices by P0.20 and P0.40 per liter, respectively, while gasoline prices will remain unchanged.
Petro Gazz, Cleanfuel, PTT Philippines and Jetti would implement the same adjustments, except for kerosene, which they do not offer.
These price movements will bring the year-to-date net increase for gasoline and diesel to P2.15 and P2.85 per liter, respectively.
Kerosene prices, on the other hand, will have a year-to-date net decrease of P0.70 per liter.
The Department of Energy attributed the adjustments to “growing signs” of a slowdown in US and global economies, potentially dampening fuel demand.
Also contributing to the rollback were fears of an oversupply in the market amid plans by OPEC+ to increase oil production starting next month.
According to an industry source, fuel prices were also affected by mounting concerns over US tariffs and countermeasures by affected countries.
Last week, oil companies reduced gasoline, diesel and kerosene prices by P1.70, P0.90 and P1.80 per liter, respectively.
