Pump price rollback set Tuesday, May 3, but less than 10% of year-to-date increases

Pump prices of petroleum products will be rolled back this week after two straight weeks of increases, equivalent to less than a tenth of the hikes so far this year.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. said they will cut down prices per liter of gasoline by P0.65, diesel by P1.15, and kerosene by P1.15.

Cleanfuel, and Petro Gazz, Phoenix Petroleum Philippines Inc., PTT Philippines Corp., will implement the same changes, excluding kerosene which they do not carry.

The changes will take effect at 6 a.m. on Tuesday, May 3, for all the firms except for Cleanfuel which will adjust prices at 8:01 a.m., and Caltex at 12:01 a.m. the same day.

The latest data available from the Department of Energy show that year-to-date adjustments stand at a net increase of P15.45 per liter for gasoline, P27.35 per liter for diesel, and P21.55 per liter for kerosene.

Data from the same agency show that prices in Metro Manila range from P66.45 per liter (Pasig City) to P89.75 per liter (Muntinlupa City) for gasoline, and from P68.20 per liter (Quezon City) to P85.20 per liter (Pasay City) for diesel. —KG/BM, GMA News