Fuel Prices Roll Back in First Week of September Amid Renewed Hopes for Conflict Resolution

Fuel prices in the Philippines dropped at the start of September, with several oil companies announcing price rollbacks. According to Seaoil, gasoline prices were reduced by 32 centavos per liter, while diesel and kerosene prices were cut by P3.83 and P3.84 respectively.

Shell Pilipinas also reported a decrease in fuel prices, with kerosene and diesel prices dropping by P3.80 and gasoline prices falling by 30 centavos.

Jetti Petroleum's diesel and gasoline prices went down by P3.90 and 40 centavos respectively. However, the LPG Marketers Association warned that liquefied petroleum gas prices may increase by P3 per kilogram this month due to a weakening peso and higher shipping costs.

According to Leo Bellas, president of Jetti Petroleum, the lower fuel prices can be attributed to renewed hopes for an end to the Middle East conflict.