Philippine fuel prices drop by PHP0.90 for gasoline, PHP0.80 for diesel, PHP1.40 for kerosene starting Tuesday

Motorists in the Philippines will see cheaper fuel prices starting Tuesday, March 4, following two consecutive weeks of oil price hikes.

Shell Pilipinas Corp., PetroGazz, CleanFuel, and Seaoil announced that gasoline prices will decrease by PHP0.90 per liter, diesel by PHP0.80, and kerosene by PHP1.40.

The rollbacks are expected to take effect at 6 a.m. on Tuesday for most firms, except Cleanfuel which will adjust prices at 8:01 a.m.

Other oil companies are expected to follow with similar reductions in fuel prices.

Last week's increases included PHP0.70 per liter for gasoline and PHP0.40 per liter for diesel, while kerosene saw an increase of PHP0.20 per liter.

As of February 25, both gasoline and diesel have seen a total net increase of PHP4.75 per liter, with kerosene having a total net increase of PHP2.90 per liter.