Fuel prices down for third straight week

MANILA, Philippines — For the third consecutive week, oil companies will impose another round of price cuts on their products.

In separate advisories on Monday, Seaoil, Jetti Philippines, Shell Pilipinas, Caltex and Petro Gazz said that per liter, the prices of diesel and kerosene would go down by 20 centavos and 40 centavos, respectively, effective on March 18.

There will be no adjustment in the price of gasoline.

READ: Fuel price cut: P1.70/L for gasoline, 90¢/L for diesel starting March 11

Industry sources had predicted a decrease in the prices of fuel products after US President Donald Trump’s decision to impose hefty tariffs on Canada, Mexico and China, which they said could slow down global economic growth.

Last week, the motoring public saw the prices of petroleum products dropping by almost P2 per liter. —Lisbet K. Esmael