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Manila Bulletin devider Business devider Global oil supply shifts trigger minor price rollback on Tuesday

Global oil supply shifts trigger minor price rollback on Tuesday

Published Apr 7, 2025 01:42 am

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Motorists can expect a slight reprieve this week, as fuel prices are set to ease.

Beginning Tuesday, April 8, gasoline will see a modest decrease of ₱0.10 per liter, while diesel prices will remain unchanged. Kerosene is also slated for a ₱0.50-per-liter reduction.

Oil companies, including Shell Pilipinas, Seaoil, and Cleanfuel, have already announced these rollbacks for the second week of April.

Last week, gasoline prices in Metro Manila fluctuated between ₱60.35 and ₱71.48 per liter, while diesel hovered around ₱53.10 to ₱56.10. Kerosene stood at ₱71.87 per liter.

The potential for price spikes rattled observers last week, driven by shifts in the global oil market, particularly following the United States’ (US) imposition of reciprocal tariffs on the Philippines and other nations.

However, Jetti Petroleum pointed out over the weekend that increased oil production, combined with a subdued global economic outlook, has driven down crude and refined oil prices this week.

Earlier concerns centered on anticipated slowdowns in China’s refinery output for March and April, as well as stricter sanctions and secondary tariffs on countries like Iran, Venezuela, and Russia.

Furthermore, a reduction in Kazakhstan’s oil output had fueled worries about global supply.

Amid the US’ 17-percent reciprocal tariff on the Philippines, fuel industry players remain concerned about its potential medium- to long-term effects, including possible trade flow disruptions.

Related Tags

Diesel Kerosene prices Oil prices Gasoline prices
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