MANILA---Prices of petroleum products will go down slightly on Tuesday, March 12, 2024.
In separate advisories, Pilipinas Shell, Jetti Petroleum, PetroGazz, Seaoil and Cleanfuel said there will be a P.50 per liter price rollback on gasoline, P.25 per liter on diesel, and P.30 on kerosene.
In its monitoring site, the Department of Energy (DOE) said the price rollback is due to “fluctuating demand concerns” in China and the United States.
The DOE added that the extended production cuts from members of the Organization of the Petroleum Exporting Countries could possibly be offset as there was an expected rise in supply coming from non-members.
The price per liter of gasoline rose by P0.50 per liter while the prices of diesel and kerosene went down by P0.40 per liter and P0.35 per liter, respectively, last Tuesday.
Cleanfuel will implement the price adjustment at 12:01 a.m. and the other companies at 6:00 a.m.