Slight price cuts in fuel expected next week | ABS-CBN

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Slight price cuts in fuel expected next week

Slight price cuts in fuel expected next week

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MANILA — Oil prices are falling for a third straight week this March, according to the Department of Energy. 

The following pump price cuts may be implemented on Tuesday, March 18, based on the previous trading days of Mean of Platts Singapore:

Gasoline No movement - P0.20/liter (decrease)

Diesel  P0.20 - P0.40/liter (decrease)

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Kerosene P0.40 - P0.60/liter (decrease)

OPEC+ has already confirmed the additional oil supply by April.

Meanwhile, there is a weaker demand in oil due to signs of a possible economic turndown in the United States and other countries, said Assistant Director Rodela Romero of the DOE Oil Industry Management Bureau.

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