Gasoline, diesel, kerosene pump prices down Tuesday

Motorists will be greeted with cheaper pump prices this week, as fuel retailers are set to implement a rollback on Tuesday, but this will not be enough to offset the increases that have been made so far this year.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp., and Shell Pilipinas Corp. said they will decrease prices per liter of gasoline by P0.90, diesel by P0.80, and kerosene by P1.40.

Cleanfuel, Petro Gazz, and PTT Philippines Corp. will implement the same changes, excluding kerosene which they do not carry.

The price reduction will take effect at 6 a.m. on Tuesday, March 4, for all the firms, except for Cleanfuel which will adjust prices at 8:01 a.m. the same day.

Other firms have yet to make similar announcements for the week.

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected rollbacks for this week, citing sluggish fuel demand in Korea, higher refined product inventories in the United States, easing geopolitical risk, and expectations of slower demand due to the upcoming tariffs planned by US President Donald Trump.

Retailers hiked prices per liter of gasoline by P0.70, diesel by P0.40, and kerosene by P0.20 last week.

This brought year-to-date adjustments to a net increase of P4.75 per liter for both gasoline and diesel, and P2.90 per liter for kerosene as of February 25, 2025.—AOL/RSJ, GMA Integrated News