Motorists could see another round of fuel price reductions as early as next week, marking the second consecutive week of price rollbacks. According to local fuel stakeholders, the price drop will likely apply to all petroleum products, including gasoline, diesel, and kerosene.
Leo Bellas, president of Jetti Petroleum Inc., explained that the expected price cuts are largely driven by fears that recent U.S. tariffs against several countries could slow down global economic growth and dampen fuel demand. Additionally, OPEC+ has decided to increase oil production in April, and an unexpected rise in U.S. oil inventory has further put pressure on oil prices.
The Department of Energy’s Oil Industry Management Bureau director, Rodela Romero, echoed these projections. She noted that based on the current four-day trading data, the rollback could be as follows: gasoline may decrease by P1.40 to P1.70 per liter, diesel by P0.90 to P1.20 per liter, and kerosene by P1.50 to P1.70 per liter.
This price reduction would be the fourth for gasoline and the fifth for diesel and kerosene this year. Current fuel prices in Manila are as follows: P61.85 per liter for gasoline (RON91), P57.65 for diesel, and P73.87 for kerosene. Despite the expected price drop, year-to-date price increases remain significant, with a P4.75 per liter rise for both gasoline and diesel, and a P2.90 increase for kerosene.
For motorists, this news brings a much-needed break in the face of ongoing price hikes, making the rollback a welcome development for commuters and businesses relying on fuel.
