Starting Tuesday, April 15, motorists can expect lower fuel prices, offering relief during the Holy Week rush.
Major oil companies Caltex, Cleanfuel, Seaoil, and Shell announced a rollback of PHP3.60 per liter for gasoline, PHP2.90 for diesel, and PHP3.30 for kerosene. The price cuts will be effective as early as 6 a.m., with other fuel providers expected to follow.
According to the Department of Energy (DOE), current prices in Metro Manila range from PHP50 to PHP73.75 per liter for gasoline, PHP49 to PHP74.74 for diesel, and PHP69 to PHP83.19 for kerosene. Despite the latest reduction, fuel costs remain higher compared to the beginning of the year, with a net increase of PHP4.55 for gasoline, PHP4.45 for diesel, and PHP0.40 for kerosene.
The DOE attributed the rollback to global factors, including a decline in international oil prices. Last week, West Texas Intermediate and Brent crude dropped by 4.62% and 4.12%, respectively. The drop followed reduced demand projections and increasing trade tensions between the United States and China.
“Year-to-date, gasoline has a total net increase of PHP4.55 per liter, diesel total net increase of PHP4.45 while kerosene has a total net increase of PHP0.40 per liter,” the DOE said.
Another key factor was the announcement by some OPEC+ members that they are considering boosting oil production, which may help stabilize prices further.
The price rollback comes at a crucial time for Filipinos traveling to the provinces for Holy Week, providing much-needed financial ease amid rising costs.