Fuel price update: Gas, diesel roll back by more than P1/liter today

MANILA: Starting on Tuesday, March 21, the cost of gasoline and diesel at the pump will be reduced by P1.20 to P1.85 per liter, respectively. Kerosene also drops by P2 per liter.

Caltex, Cleanfuel, Petro Gazz, PTT Philippines, Seaoil, and Shell all followed the rollback. Prices for kerosene have also been reduced by Caltex, Seaoil, and Shell. Other oil companies have done the same. At 12:01 a.m., the reversal in oil prices began.

Retailers have lowered the cost of diesel and kerosene for a second consecutive week.

The collapse of Silicon Valley Bank and Signature Bank, as well as the crises at Credit Suisse and First Republic Bank, were among the banking-related events that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) earlier blamed for the changes in oil prices last week, according to the Philippine News Agency.

Prior to the start of the year, gasoline prices had increased by P8.80 per liter, diesel prices had increased by P2, and kerosene prices had increased by P0.65, the PNA report added. 

Photo from Chevron Philippines Inc.,

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