Fuel prices drop anew amid economic slowdown fears

Fuel companies are implementing a price rollback for diesel by ₱0.20 per liter and for kerosene by ₱0.40 per liter starting March 18.

Gasoline prices will remain unchanged, marking the third consecutive week of fuel price reductions for diesel and kerosene.

The Department of Energy (DOE) attributes the rollbacks to growing signs of a slowdown in US and global economies, potentially dampening fuel demand, and fears of an oversupply in the market.

Concerns over US tariffs and countermeasures by affected countries also influenced fuel prices.

Year-to-date, gasoline has a net increase of ₱2.15 per liter, while diesel has a net increase of ₱2.85 per liter.

Kerosene prices, on the other hand, now have a year-to-date net decrease of ₱0.70 per liter.