Prices of gasoline, kerosene to roll back on Tuesday; PH still at advantage despite U.S. reciprocal tariffs

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Transcript

00:00Heads up motorists. You'll see a slight break at the palms this week following two consecutive rounds of fuel price

00:08Hikes these and other stories in tonight's business wrap from the Philippine News Agency

00:20And now for our business news motorists will see a slight break at the palms this week following two consecutive

00:28rounds of fuel price hikes meanwhile in trade the Philippines is expected to benefit from a lower

00:36reciprocal tariff rate imposed by the US

00:40Compared to other Asian nation according to the Department of Trade and Industry

00:46Sea oil Philippines and Shell Filipinas have announced a 10 centavos per liter rollback in gasoline and a 50 centavos cap in

00:54kerosene prices while these still remain

00:58Unchanged clean fuel will implement the same changes except for kerosene

01:03Which it does not carry these adjustments will take effect at 6 a.m

01:07On Tuesday April 8 while clean fuel will roll back prices slightly later at 8

01:14Or 1 a.m. The same day other firms have yet to announce their price movements as of this report

01:21The Department of Energy's Oil Industry Management Bureau had earlier anticipated price increases

01:27for gasoline and diesel with kerosene potentially moving in either direction

01:32These fluctuations are being attributed to a mix of global developments

01:36including the US imposition of reciprocal tariffs on several trading partners a

01:41slight dip in global oil prices and a seasonal decline in refinery activity in China due to

01:49maintenance schedules

01:51Meanwhile in trade the Philippines is expected to benefit from a lower reciprocal tariff rate imposed by the US

01:58Compared to other Asian nations some of which face tariffs of over 40%

02:03The country's goods are levied at 17%

02:06Positioning local exporters more competitively in the American market

02:10Trade officials believe this could provide a significant boost for key export products like coconut based goods

02:17however

02:18They also advise businesses to diversify and explore other international markets to reduce reliance on any

02:26Single trade partner on the investment front the Philippine government continues to leverage to create more act

02:32to attract more foreign capital some economic managers view the current trade environment as an opportunity for growth rather than a

02:41setback

02:43And that's the latest business news from the Philippine News Agency, this is Marita Muhay for Balitan Pambansa

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