Philstar
Gas down by P1.70, diesel by P0.90
Motorists can expect another round of fuel price rollbacks starting Tuesday, March 11, with significant price reductions for gasoline, diesel, and kerosene.
Gasoline prices will decrease by ₱1.70 per liter, diesel by ₱0.90 per liter, and kerosene by ₱1.80 per liter.
The price adjustments were announced by major oil companies such as Shell Pilipinas, Seaoil, and Clean Fuel.
Factors contributing to these rollbacks include increased commercial crude stockpiles in the US and potential concerns over lower fuel demand.
Analysts suggest that a larger crude supply has mitigated the risk of price hikes, while US tariffs have raised worries about an economic slowdown, potentially reducing fuel consumption.
Further contributing to the outlook of increased fuel supply, OPEC+ plans to raise production in April.
Additionally, Saudi Aramco has reduced crude oil prices for Asian buyers following market analysis and the OPEC+ decision.
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