Motorists will see a slight decrease in fuel prices this week after two consecutive weeks of price hikes. In separate announcements, Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp., and Shell Pilipinas Corp. said they will reduce the price of gasoline by P0.10 per liter and kerosene by P0.50 per liter. Diesel prices will remain unchanged.
Cleanfuel, Petro Gazz, and PTT Philippines Corp. will implement the same price changes, except for kerosene, which they do not offer.
These price adjustments will take effect at 6 a.m. on Tuesday, April 8, for most companies, except Cleanfuel, which will implement the changes at 8:01 a.m.
Other oil companies have yet to announce their price adjustments for the week as of this time.
Oil firms typically announce price changes every Monday, which take effect the following day.
The Department of Energy‘s Oil Industry Management Bureau (DOE-OIMB) had earlier predicted that gasoline and diesel prices would increase this week, with possible changes in kerosene prices as well.
The price adjustments are linked to the following factors, according to DOE-OIMB:
U.S. President Donald Trump announced reciprocal tariffs on several trading partners, including the EU, China, and Korea, raising concerns that a global trade war could reduce crude oil demand.
Oil prices dipped slightly as concerns over the impact of the trade war on global growth outweighed fears of supply disruptions due to U.S. threats of secondary tariffs on Russian crude.
China’s refineries were expected to cut production in March and April due to the peak maintenance season.
Last week, on April 1, oil companies raised gasoline prices by P1.40 per liter, and diesel and kerosene prices by P1.20 per liter each.
The previous week, retailers had increased gasoline prices by P1.10 per liter, and diesel and kerosene by P0.40 per liter each.
As of April 1, 2025, year-to-date adjustments brought gasoline prices up by P4.65 per liter, diesel by P4.45 per liter, and kerosene by P0.90 per liter.
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