Fuel prices roll back P0.10 per liter for gasoline starting April 8

Fuel prices in the Philippines are set to experience a slight rollback starting Tuesday, April 8, reversing expectations of another round of price hikes.

Oil companies will decrease gasoline prices by P0.10 per liter and kerosene by P0.50 per liter, while diesel prices remain unchanged.

Shell Pilipinas, Cleanfuel, Seaoil, and PetroGazz announced these adjustments on Monday, April 7, following projections of potential price hikes due to global trade slowdowns and supply concerns.

Since the start of the year, fuel prices have risen significantly, with gasoline and diesel increasing by P4.55 and P4.45 per liter respectively, amid US sanctions on Iran and ongoing conflicts in Ukraine.

The Department of Energy's Oil Industry Management Bureau attributes these changes to a combination of geopolitical tensions and market projections that initially suggested higher costs due to reduced global oil supply.