Oil firms roll back pump prices today

MANILA, Philippines — Oil companies are set to implement a rollback in fuel prices today, ending three consecutive weeks of price increases.

In separate advisories, Shell, Caltex and Seaoil announced a decrease of P0.80 per liter for gasoline, P0.20 per liter for diesel and P0.50 per liter for kerosene.

Petro Gazz, Cleanfuel, PTT Philippines and Jetti will implement the same adjustments, except for kerosene, which they do not offer.

The rollback is due to the reopening of refineries and ports along the US Gulf Coast last week after a winter storm, according to the Department of Energy.

The DOE also noted that the oil market is closely monitoring how US President Donald Trump’s proposed tariffs could impact global economic growth and energy demand.

These latest adjustments bring the year-to-date net increases of gasoline, diesel and kerosene to P2.65, P4.80 and P3.80 per liter, respectively.

Last week, domestic pump prices increased by nearly P3 per liter due to concerns that tougher sanctions on the Russian oil industry could tighten supply in the global oil market.