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Manila Bulletin devider Business devider Fuel prices marginally reduced this week

Fuel prices marginally reduced this week

Published Jan 25, 2021 01:01 pm

Filipino consumers will gain slight relief in their pockets this week as the price of gasoline will be rolled back by P0.15 per liter at the pumps; while diesel will have price reduction of P0.10 per liter.


The price downtrend for kerosene product in this round of adjustment is also at P0.10 per liter, as announced by the oil companies.


As of press time, the industry players that already sent notices on their price cuts had been Pilipinas Shell Petroleum Corporation, Seaoil, Cleanfuel and PetroGazz effective Tuesday (January 26); while their competitor-firms are anticipated to follow.


This is the first time this month that prices will be on rollback; as the past three weeks had seen costs upticks reigning in the market.

Global market players still portend uncertainty in demand rebound given the faster spread of the UK virus strain that instigated new wave of lockdowns in some countries.


The incessant rally in prices in recent weeks practically stalled, after demand rise projections had been tamed because of market ambivalence being evoked by the unabated Covid-19 infections despite the rollout of vaccines in many parts of the world.

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