5 days ago
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Motorists stock up on fuel before midnight of June 7, 2022 as prices are set go up.
The STAR / Walter Bollozos
MANILA, Philippines — Motorists can expect fuel prices to drop by almost P2 per liter on Tuesday, March 11, marking the second straight week of rollbacks.
Oil firms said they will cut pump prices by P1.70 per liter for gasoline, P0.90 per liter for diesel, and P1.80 per liter for kerosene.
Shell Pilipinas, Seaoil, CleanFuel and PetroGazz announced the price adjustments in separate advisories on Monday, March 10.
Last week, gasoline prices fell by P0.90 per liter, diesel by P0.80 and kerosene by P1.40, driven by weaker fuel demand in South Korea and easing geopolitical tensions.
The Department of Energy’s Oil Management Bureau said fuel prices are dropping this week due to a rise in the United States’ crude stockpiles.
It also pointed to the plans of the Organization of the Petroleum Exporting Countries (OPEC) and other oil producers to boost supply output by April.
Lower demand from Mexico, Canada and China, driven by US trade tariffs, has also contributed to the downward price adjustments.
In Metro Manila, the prevailing retail prices per liter of petroleum products from March 4 to March 10 were:
- Gasoline (RON97/100) - P73.65
- Gasoline (RON95) - P68.86
- Gasoline (RON91) - P58.65
- Diesel - P54.60
- Diesel Plus - P59.30
- Kersone - P72.47
With this week's adjustments, gasoline prices have seen a net increase of P2.15 per liter this year, while diesel has risen by P3.05 per liter. Kerosene price, however, has posted a net decrease of P0.30 per liter in 2025 due to significant price cuts in the past weeks.
