Fuel prices drop by up to 30¢/L starting Tuesday
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MANILA, Philippines — Fuel retailers will lower petroleum prices by up to 30 centavos per liter starting Tuesday.
Seaoil and Shell Pilipinas announced in separate advisories that gasoline and diesel prices would drop by 10 centavos per liter.
The per-liter price of kerosene will likewise go down by 30 centavos.
READ: Mixed fuel price adjustments set on Tuesday, February 4
Leo Bellas, Jetti Petroleum president, earlier said the potential downward adjustments in pump prices could be attributed to recent decisions of US President Donald Trump, particularly pausing tariffs on Canada and Mexico.
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“Weak demand concerns in the US following a larger-than-expected build in crude oil and gasoline stockpiles and worries that the renewed China-US trade war could slow down economic growth and dampen demand for oil further pressured prices,” he added in a statement.
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