March 4: Gasoline, diesel, kerosene prices cut by as much as P1.40 per liter
Credit to Author: Dominique Nicole Flores| Date: Mon, 3 Mar 2025 11:47:00 +0800
MANILA, Philippines — March kicks off with a welcome drop in fuel prices, providing motorists with around P1 per liter in relief after two straight weeks of increases.
Starting Tuesday, March 4, oil firms will reduce pump prices by P0.90 per liter for gasoline, P0.80 per liter for diesel and P1.40 per liter for kerosene.
Shell Pilipinas, CleanFuel, PetroGazz, Caltex, Seaoil and PTT Station announced the adjustments in separate advisories on Monday, March 3.
The rollback follows two consecutive weeks of fuel price hikes, which saw a cumulative increase of P1.50 per liter for gasoline, P1.20 per liter for diesel and P0.30 per liter for kerosene.
According to the Department of Energy’s Oil Industry Management Bureau, this week's price drop is attributed to weaker fuel demand in South Korea and rising refined product inventories in the United States.
The fuel price rollback is also influenced by easing geopolitical tensions amid reported progress on a Ukraine-Russia ceasefire deal and concerns that upcoming US tariffs may dampen global fuel demand.
In Metro Manila, the prevailing retail prices per liter of petroleum products from February 25 to March 3 were:
Following this week's price adjustments, fuel prices have seen a total net increase of P3.85 per liter for gasoline, P3.95 per liter for diesel, and P1.50 per liter for kerosene in 2025.