April 8: Fuel prices set for minor cuts

MANILA, Philippines — Following expectations of a third straight week of price hikes, fuel prices will instead see a slight rollback starting Tuesday, April 8.

Oil companies will lower prices of gasoline by P0.10 per liter and kerosene by P0.50 per liter this week, while diesel prices will remain unchanged.

Shell Pilipinas, Cleanfuel, Seaoil, and PetroGazz announced the price adjustments in separate advisories on Monday, April 7.

The Department of Energy’s Oil Industry Management Bureau (DOE-OIMB) earlier projected price hikes of up to P0.70 per liter for gasoline and P0.60 per liter for diesel, amid concerns of a global trade slowdown following the United States’ announcement of new tariffs on its trading partners.

Also fueling the forecast was an expected dip in China’s refinery output this month due to peak maintenance season.

Fuel prices rose over the past two weeks following a drop in global oil supply, driven by US sanctions on Iran and continued attacks on energy infrastructure amid the Russia-Ukraine conflict.

From April 1 to April 7, the prevailing retail prices of petroleum products in Metro Manila were as follows:  

• Gasoline (RON97/100) - P71.48
• Gasoline (RON95) - P60.35
• Gasoline (RON91) - P61.25
• Diesel - P53.10
• Diesel Plus - P56.10
• Kerosene - P71.87

After the slight price cuts, gasoline will see a net increase of P4.55 per liter, diesel by P4.45 and kerosene by P0.40.