Motorists received good news this week as fuel companies announced price rollbacks effective Tuesday, January 28.
In separate advisories, oil firms confirmed the following price reductions: 80 centavos per liter for gasoline, 20 centavos per liter for diesel, and 50 centavos per liter for kerosene.
Petro Gazz, Shell Pilipinas, and Seaoil will implement the price cuts starting at 6 a.m., while Cleanfuel will follow at 8:01 a.m. on the same day. Other industry players are also expected to announce similar adjustments.
This rollback marks the first price reduction of the year after three consecutive weeks of hikes.
Context and Causes
Last week, industry sources hinted at a potential price decrease due to global factors. These include the proposed tariffs by former U.S. President Donald Trump, which raised concerns about global economic growth and reduced energy demand. Additionally, the easing of geopolitical tensions in the Middle East alleviated fears of disruptions in key shipping routes, such as the Red Sea.
Before this rollback, fuel prices had increased significantly: gasoline by P1.65 per liter, diesel by P2.70 per liter, and kerosene by P2.50 per liter.
Motorists are hopeful that this downward adjustment signals a more stable trend in fuel prices for the coming weeks.