Fuel prices drop: gas down ₱1.70, diesel down ₱0.90 per liter, starting Tuesday

Starting Tuesday, March 11, motorists will see further reductions in fuel prices across the Philippines, with gasoline dropping by ₱1.70 per liter and diesel by ₱0.90 per liter.

Leading oil companies such as Shell Pilipinas, Seaoil, CleanFuel, PetroGazz, Jetti, PTT, and others announced these price rollbacks due to increased crude supply and potential concerns over lower fuel demand.

According to industry experts, global developments influencing the price adjustments include rising US crude stockpiles and OPEC+'s decision to cut output starting April, along with anticipated tempered demand from Canada, Mexico, and China due to their tariff wars with the United States.

Current fuel prices in Metro Manila range from ₱52 to ₱78.47 per liter for gasoline, ₱50 to ₱74.24 per liter for diesel, and from ₱71.44 to ₱83.69 per liter for kerosene.

These factors are expected to bring more fuel supply to the market in the coming months, potentially stabilizing or further reducing prices.