Gasoline, diesel, kerosene prices to go down Tuesday

Motorists will get a slight reprieve this week, as oil firms are set to roll back pump prices on Tuesday following the major price hike implemented in the past week.

In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will reduce prices per liter of gasoline by P0.35, diesel by P0.10, and kerosene by P0.30.

Cleanfuel, Petro Gazz and Phoenix 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, June 20, for all the firms, except for Caltex and Cleanfuel, which will adjust prices at 12:01 a.m. on the same day.

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

Firms last week increased prices per liter of gasoline by P1.20, diesel by P1.40, and kerosene by P1.30.

The Department of Energy (DOE) last week projected a rollback, based on the four-day trading as markets took into consideration the optimism on China’s demand data, and more rate hikes in the United States which could temper demand.

Latest data available from the agency indicate a year-to-date net increase of P6.70 per liter for gasoline, and net decreases of P3.95 per liter for diesel, and P6.05 per liter for kerosene as of June 13, 20233. —Jon Viktor D. Cabuenas/KBK, GMA Integrated News