MANILA, Philippines — Motorists are set to receive some relief as fuel prices will take a downward turn starting Tuesday, March 4, 2025. Key oil companies including Seaoil, CleanFuel, and PetroGazz have announced price reductions of P0.90 per liter for gasoline, P0.80 per liter for diesel, and P1.40 per liter for kerosene. This welcomed decrease follows two consecutive weeks of rising fuel prices, which saw increases of P1.50 for gasoline and P1.20 for diesel.
According to advisories released on Monday, March 3, the changes are considered timely, especially for drivers feeling pinched by the previous hikes. The Department of Energy’s Oil Industry Management Bureau pointed out various factors leading to this rollback. "This week's price drop is attributed to weaker fuel demand in South Korea and rising refined product inventories in the United States," reported by The Philippine Star.
The rollback is especially notable following what has been two weeks of hardship for consumers. Fuel prices within Metro Manila before the rollback stood around P70.99 for premium gasoline and P57.05 for diesel, significantly impacting everyday travel expenses for many Filipino families.
Despite this current decrease, the year has been characterized by significant price fluctuations. Since the beginning of 2025, gasoline prices have risen by P3.85 per liter, and diesel has seen increases totaling P3.95 per liter. Kerosene prices reflect similar trends with P1.50 increases observed previously, landing at current prices prior to adjustments around P73.87.
The instability of oil prices is often interlinked with various geopolitical factors. The recent easing of tensions related to the Ukraine-Russia conflict, as well as concerns over potential upcoming tariffs from the U.S., have also played roles at the global market level affecting local prices. The fuel price rollback highlights the sensitivity of fuel costs to international market dynamics.
Experts suggest consumers remain vigilant about fuel prices as movements can vary from region to region, especially as different fuel stations may offer varying rates. It’s also noted by industry insiders, "While we’re at it, here are the signs your fuel injectors could be failing,” indicating preventative maintenance may lower fuel expenses.
The current decrease provides much-needed financial space for many commuters who rely on vehicles for daily travel. With the total net price changes of petroleum products, including the upcoming price cuts, consumers hold hope for more stable pricing as they adapt to the current economic climate.
Oil companies typically announce price movements every Monday, providing much window for planning on the part of consumers, yet many still feel the weight of previous increases during regular commuting.
Overall, this latest rollback is just the beginning of broader discussions about fuel pricing and the ease of access for everyday users as concerns mount over fuel affordability and availability.
With the adjustments effective for the week of March 3 to March 10, 2025, the price for gasoline, diesel, and kerosene will now reflect the continued shifts as analysts speculate on future price trajectories.
This adjustment serves as a reminder of the interplay between global events and local economics, reflecting wider market sentiments as industry players respond to both local and international demands.