FOR two consecutive weeks, oil firms will slash pump prices effective today, March 11, with biggest cuts on gasoline and kerosene prices.
In separate advisories, Cleanfuel, Jetti, Petro Gazz, Petron, PTT, Seaoil, and Shell said they will reduce gasoline prices by P1.70 per liter and 90 centavos per liter for diesel.
Petron, Seaoil and Shell will also roll back kerosene prices by P1.80 per liter.
Other oil firms are expected to follow suit.
Industry experts said global developments that influenced oil prices in the world market include the build-up of crude oil stockpiles in the United States, the decision of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to cut output next month, and the anticipated tempered demand from Canada, Mexico, and China due to their tariff wars with the United States.
Meanwhile, with last weekâs price adjustment, current fuel prices in Metro Manila range from P52 to P78.47 per liter for gasoline, P50 to PP74.24 per liter for diesel, and from P71.44 to P83.69 per liter for kerosene. (PNA)
