Lower fuel prices again next week - DOE

Metro Manila, Philippines - Fuel prices may decline again next week though smaller this time as struggling global economies weigh down on the market, the Department of Energy (DOE) said.

In an advisory on Friday, March 14, the agency said gasoline prices may go down by up to P0.40 per liter.

Diesel and kerosene prices, meanwhile, may be lower by up to P0.60 per liter.

The DOE attributed the possible rollback to “signs that the US and global economies are struggling, which will hit fuel demand,” and fears of oversupply.

Oil companies implemented big-time cuts in fuel costs on Tuesday.

Based on NewsWatch Plus year-to-date monitoring, kerosene has a total net decrease of P0.30 per liter. Gasoline and diesel, meanwhile, had a net increase of P2.15 and P3.05 per liter, respectively.