Gasoline down P2.60/liter, diesel by P1.55/liter Tuesday

Motorists will get a slight reprieve from the successive major pump price hikes this week, as oil firms announced a rollback.

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 P2.60, diesel by P1.55, and kerosene by P1.60.

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

The changes will take effect at 6 a.m. on Tuesday, September 6, for all the firms except for Cleanfuel and Caltex, which will both implement the adjustments at 12:01 a.m. the same day.

Other firms have yet to make similar announcements for the week.

The latest rollback comes after two straight weeks of increases, as firms hiked prices per liter of gasoline by P1.40, diesel by P6.10, and kerosene by P6.10 last Tuesday.

Latest data available from the Department of Energy (DOE) indicate that year-to-date total adjustments stood at a net increase of P19.55 per liter for gasoline, P37.80 per liter for diesel, and P33.20 per liter for kerosene as of August 30, 2022. — RSJ/BM, GMA News