A rollback in pump prices is set for implementation on Tuesday, May 6, with kerosene seeing an almost 1-peso drop.
Shell Pilipinas Corp., Chevron Philippines Inc. (Caltex), and Seaoil Philippines Corp. announced that they will be adjusting their prices accordingly:
- Gasoline - ₱0.55/L decrease
- Diesel - ₱0.65/L decrease
- Kerosene - ₱0.90/L decrease
Cleanfuel will follow suit, excluding the kerosene price change, as they do not carry the product.
All fuel retailers will be reducing their prices at 6 AM on Tuesday, save for Cleanfuel, which will do so at 8:01 AM of the same day instead.
Other firms are yet to release similar announcements.
Lower prices have been projected by the Department of Energy - Oil Industry Management Bureau (DOE-OIMB) earlier, owing to oversupply concerns in global markets, and the potential impact of US tariffs on economic growth and fuel demand internationally.
