Gasoline, diesel prices drop 2nd week of March | ABS-CBN
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Gasoline, diesel prices drop 2nd week of March
Gasoline, diesel prices drop 2nd week of March
Published Mar 10, 2025 08:53 AM PHT
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Updated Mar 10, 2025 06:13 PM PHT
MANILA (UPDATE) — Oil prices are falling for a second straight week this March. The following price adjustments are set to take effect on March 11:
MANILA (UPDATE) — Oil prices are falling for a second straight week this March. The following price adjustments are set to take effect on March 11:
Gasoline - 1.70/liter ⬇️
Gasoline - 1.70/liter ⬇️
Kerosene -1.80/liter ⬇️
Kerosene -1.80/liter ⬇️
Diesel -0.90/liter ⬇️
Diesel -0.90/liter ⬇️
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Department of Energy Assistant Director Rodela Romero said the main reason for the dip in prices at the international market was OPEC's firm decision to increase production and bigger oil inventory in the US.
Department of Energy Assistant Director Rodela Romero said the main reason for the dip in prices at the international market was OPEC's firm decision to increase production and bigger oil inventory in the US.
The OPEC+ has also announced it will continue plans to increase supply output in April. Meanwhile, Mexico, Canada and China are lowering demand due to US trade tariffs.
The OPEC+ has also announced it will continue plans to increase supply output in April. Meanwhile, Mexico, Canada and China are lowering demand due to US trade tariffs.
Another factor that influenced the rollback was the strengthening of the Philippine peso against the US dollar.
Another factor that influenced the rollback was the strengthening of the Philippine peso against the US dollar.
As a result of the two-week rollback, the net increase for both diesel and gasoline also went down, P3.05/L and P2.15/L, respectively, while kerosene already has a net rollback of P0.30/L.
As a result of the two-week rollback, the net increase for both diesel and gasoline also went down, P3.05/L and P2.15/L, respectively, while kerosene already has a net rollback of P0.30/L.
Despite the consecutive price slashes, Romero said there is no clear trend yet as some factors like geopolitical tensions can quickly turn oil prices upward.
Despite the consecutive price slashes, Romero said there is no clear trend yet as some factors like geopolitical tensions can quickly turn oil prices upward.
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