Firms cut fuel prices this week

Metro Manila, Philippines - After two consecutive price increases, firms are set to reduce per-liter costs of fuel products this week.

In separate advisories on Monday, May 5, Caltex, Cleanfuel, and Seaoil said they will implement a cut on gasoline by P0.55 per liter and diesel by P0.65 per liter starting Tuesday.

Caltex and Seaoil said they will lower kerosene by P0.90 per liter.

The Department of Energy previously said this week’s price movement may be affected by concerns about oversupply in global markets and “erratic” tariff policies of the United States.

As of April 29, year-to-date adjustments for gasoline and diesel have a total net increase of P3.65 per liter, while kerosene has a total net decrease of P1.10 per liter.