MANILA — Motorists can anticipate a slight decrease in petroleum product prices as oil companies are set to lower pump prices.
Shell Pilipinas and Seaoil have announced reductions of 20 centavos per liter for diesel and 45 centavos for kerosene.
Additionally, gasoline prices will dip by 10 centavos per liter.
These adjustments will mark the fourth consecutive week of price rollbacks for diesel and kerosene.
The decline is attributed to weakening demand from China and plans by OPEC+ to increase supplies in the global market, according to Rodela Romero, Director III of the Department of Energy-Oil Industry Management Bureau.
In contrast, crude oil futures saw an extension in gains due to escalating geopolitical risks from renewed conflicts in the Middle East and lower US crude inventories.
This news suggests that tomorrow’s price movements could provide relief for motorists while reflecting global market dynamics.
(Elami/mnm)
