Fuel Prices Slashed—What You Need to Know!

Exciting news for motorists! This week, fuel retailers are rolling back prices, bringing some relief after two weeks of rising costs.

On Monday, major players like Chevron (Caltex), Seaoil, and Shell announced significant cuts to their fuel prices. Gasoline prices will drop by P0.55 per liter, diesel by P0.65, and kerosene by P0.90.

Cleanfuel is joining the trend with the same reductions, though they don’t sell kerosene.

These changes are set to take effect bright and early at 6 a.m. on Tuesday, May 6. Cleanfuel will roll back prices just a bit later, at 8:01 a.m.

According to the Department of Energy, this price decrease aligns with predictions about oversupply issues in the global oil market as well as concerns over the impact of U.S. tariff policies on economic growth and fuel demand.

Last week saw price hikes where gasoline went up by P1.35, diesel by P0.80, and kerosene by P0.70, making this rollback a welcome change!