Motorists can expect relief this Holy Week as fuel prices drop by up to P3.60 per liter. Shell, Caltex, and Seaoil announced price cuts for gasoline, diesel, and kerosene, with reductions of P3.60, P2.90, and P3.30 per liter, respectively.
Other oil companies like Petro Gazz, Cleanfuel, PTT Philippines, and Jetti will implement similar adjustments, excluding kerosene.
The price drops are attributed to escalating trade tensions between the US and China, which have dampened global demand for crude oil, according to the Department of Energy (DOE).
Despite the reduction, oil companies are cautious about future price rebounds due to ongoing recession fears and OPEC’s planned output hike.
Source: PhilNews24 | April 15, 2025
