Fuel prices down this week

MANILA, Philippines — Motorists can expect a slight decrease in domestic pumps today, amid recent developments in the global oil market.

In separate advisories, Shell, Caltex and Seaoil announced that gasoline would go down by P0.50 per liter, diesel by P0.70 and kerosene by P0.85.

Petro Gazz, Cleanfuel, PTT Philippines and Seaoil would implement the same price adjustments, except for kerosene, which they do not offer.

The Department of Energy attributed the price movement to the de-escalating tensions in the Middle East and the potential surplus in crude supply next year.

Oil demand growth is also seen easing in 2025 on the back of “vehicle efficiency upgrades and the slowing economy of China,” the agency added.

Year-to-date, the total adjustment of gasoline and diesel now stands at a net increase of P8.55 and P6.05 per liter, respectively.

Kerosene, on the other hand, has decreased by P3.60 per liter since January.

Last week, oil companies hiked prices of gasoline, diesel and kerosene by P2.65, P2.70 and P2.60 per liter, respectively.