00:00Fuel retailers are set to implement a second consecutive week of price reductions on Tuesday, April 21st,
00:06following the government mandate aimed at shielding consumers from the impact of volatile global energy markets and heightened tensions in
00:14the Middle East.
00:15Shell Pilipinas Corporation and Sea Oil Philippines Incorporated were among the first to announce that diesel prices will drop by
00:2224 pesos and 94 centavos per liter, effective April 21st.
00:27Gasoline prices will decrease by 3 pesos and 41 centavos per liter, while kerosene will see a reduction of 2
00:34pesos per liter.
00:36The adjustments follow guidance from the Department of Energy, which is moving to stabilize domestic costs after a sustained period
00:43of price hikes earlier this year.
00:45The significant rollbacks are being executed under Executive Order 110, a directive from President Ferdinand Marcos Jr.
00:53that grants the state broader intervention powers in fuel pricing during periods of extreme market instability.
00:59Energy Secretary Sharon Guerin said on Monday, April 20th, that these minimum rollback levels were calculated to align with the
01:07administration's current efforts to mitigate inflationary pressures.
01:11In addition to price interventions, the government has tightened its grip on the local supply chain by requiring oil firms
01:18to provide transparent disclosures of their available storage capacity.
01:22This increased oversight comes as the administration seeks to build a more robust strategic buffer.
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