Manila: Local oil industry player Seaoil has offered a discount on fuel prices to motorists this midterm election day. On Monday, Seaoil is offering a Special Voter’s Day Discount Promo at selected Seaoil stations. The list of participating stations can be found at this link: bit.ly/InkForFuel25. The oil firm is giving a PHP4 per liter discount on gasoline prices, and a PHP2 per liter discount for diesel.
According to Philippines News Agency, oil companies will slash fuel prices starting May 13. Seaoil and Shell announced they would decrease gasoline prices by 30 centavos per liter, 90 centavos per liter on diesel prices, and PHP1.25 per liter on kerosene prices. Other oil firms are expected to follow suit. This marks the second consecutive week that local industry players have implemented an oil price rollback.
Earlier, the Department of Energy’s (DOE) Oil Industry Management Bureau attributed the lower oil prices this week to the decision of the OPEC+ to ramp up output next month, improving global supply, while the uncertainties due to the United States’ tariff policy continue to dampen demand. ‘Year-to-date, gasoline has a total net increase of PHP3.10 per liter as well as diesel with a total net increase of PHP3 per liter. Kerosene has a total net decrease of PHP2 per liter,’ DOE said.
With the oil price adjustment last week, gasoline prices in Metro Manila range from PHP44 to PHP73.21 per liter, from PHP44 to PHP73.94 per liter for diesel, and from PHP67.10 to PHP83.89 per liter for kerosene.
