'Substantial' price cuts to be implemented this week

MANILA: Local fuel players shall impose substantial price cuts on the price of their products at the pump this week.

Based on their respective advisories, Shell, Petron, and Unioil the  prices will go from P4.43 per liter all the way to P23 per liter, depending on the product:

Here’s what they look like at a glance:

Company	Diesel	Gasoline	Kerosene
Shell	P23 per liter	P6.50 per liter	P11.50 per liter
Petron	P20.89 per liter	P4.43 per liter	P8.50 per liter
Unioil	P20.90 per liter	P4.50 per liter

The announcement was made after the President Ferdinand Marcos over the weekend that the estimated price drop on prices at the pump will be around P20.89 per liter of diesel, P4.43 per liter of gasoline, and P8.50 per liter of kerosene. 

This adjustment will be made days after United States President Donald Trump that it will block the Strait of Hormuz following the failed negotiations with Iran, which could again disrupt the price of oil in the global market.

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Meanwhile, President Ferdinand Marcos Jr. has removed the excise tax on liquefied petroleum gas (LPG) and kerosene.

“Binawasan natin ang buwis sa produktong petrolyo na direktang ginagamit sa pang-araw-araw na buhay (We reduced taxes on petroleum products that are directly used in daily life),” President Marcos said in a statement in Malacañang on Monday.

“So, sa ilalim ng kapangyarihan na ibinigay sa atin ng batas, tinangggal ko na ang excise tax sa LPG at sa kerosene (So, under the power given to us by law, I have abolished the excise tax on LPG and kerosene),” he added.

The removal of tax is equivalent to P3.36 per kilo of LPG, or almost a P37 reduction for every tank of LPG and P5.60 for every liter of kerosene, a substantial reduction in cooking expenses of Filipino families. This move came after the Marcos Jr. signed Republic Act 12316, which gave him the authority to suspend or reduce fuel excise taxes for up to three months per instance (maximum of one year) when Dubai crude oil prices exceed a certain per-barrel threshold.

He also signed Executive Order 110 last March 24, declaring a state of national energy emergency.

Also read:

Fuel prices spike further as Q1 2026 closes

Fuel prices worsen

Oil firms to implement 'staggered' fuel price hikes

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