Fuel prices to drop Tuesday amid lower demand fears

Motorists can expect price reductions on fuel starting Tuesday, April 15, with gasoline prices slashed by as much as P3.60 per liter.

Shell, Caltex, and Seaoil are among the companies implementing these price cuts, with specific reductions varying for gasoline, diesel, and kerosene.

Petro Gazz, Cleanfuel, PTT Philippines, and Jetti are also implementing adjustments for gasoline and diesel.

The Department of Energy attributes these downward adjustments to escalating trade tensions between the US and China, which have sparked recession fears and dampened demand for crude oil.

Jetti Petroleum president Leo Bellas anticipates that sluggish demand and OPEC's planned output hike will hinder a major rebound in oil prices in the short term.

These latest adjustments result in a year-to-date net increase of P0.95 per liter for gasoline and P1.55 per liter for diesel.

Kerosene prices have seen a year-to-date decline of P2.90 per liter.