Inquirer
Oil prices drop by up to P 1.40
Fuel prices are set to decrease starting March 4, with gasoline down by P0.90 per liter, diesel by P0.80 per liter, and kerosene by P1.40 per liter.
This rollback ends a two-week streak of fuel price increases.
Several oil companies including Shell, Caltex, Seaoil, Petro Gazz, Cleanfuel, PTT Philippines, and Jetti are implementing these price adjustments.
The year-to-date net increase for gasoline, diesel, and kerosene are now P3.85, P3.95, and P1.50 per liter, respectively.
Industry sources attribute the price adjustments to the easing of geopolitical conflict, progress on the Russia-Ukraine ceasefire deal, and slower economic growth in the United States potentially affecting demand.
Last week, gasoline, diesel, and kerosene prices increased by P0.70, P0.40, and P0.20 per liter, respectively.
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Motorists can expect another round of fuel price rollbacks starting Tuesday, March 11, with significant price reductions for gasoline, diesel, and kerosene.
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Motorists can anticipate a rollback in fuel prices starting March 4, with reductions expected for gasoline, diesel, and kerosene.
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Motorists can expect another rollback in petroleum prices in the second week of March.
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Pump prices are expected to decrease next week, ending a two-week period of increases, due to factors like weak global demand and easing geopolitical tensions.
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