The country’s oil firms cut the pump price of diesel and kerosene by P0.20 and P0.40 per liter, respectively at 6am today to reflect the movement of prices in the world oil market.
The oil firms, however, did not adjust the pump price of gasoline.
PTT Philippines, Seaoil Philippines, Cleanfuel, Jetti Petroleum, Chevron Philippines and PetroGazz issued separate advisories of the latest oil price movement.
Department of Energy director Rodela Romero said last week softening of world oil prices can be attributed to “growing signs that the US and global economies are struggling which will hit demand; and fears of a supply glut exerted additional downward pressures on prices.”
Jetti Petroleum president Leo Bellas also attributed the decline in world oil prices to “concerns that the tariff wars could slow down economic growth and curtail global fuel demand. Mounting fears of a US economic slowdown have also weighed on prices.”
He said the weaker US dollar and data showing a tighter-than-expected US oil and fuel inventories have helped prices from sliding down further.
On March 11, 2025, the oil companies implemented a decrease of P1.70 per liter for gasoline, P0.90 per liter for diesel and P1.80 per liter for kerosene.
Year-to-date, gasoline and diesel have a total net increase of P2.15 per liter and P3.05 per liter respectively while kerosene has total net decrease of P0.30 per liter.