Pump prices down on first week of 2024

Motorists will be greeted with cheaper pump prices starting Tuesday, as oil firms on Monday announced a downward adjustment for the first week of the year.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Pilipinas Shell Petroleum Corp. and Seaoil Philippines Corp. said they will lower prices per liter of gasoline by P0.10, diesel by P0.35, and kerosene by P1.40.

Cleanfuel and Petro Gazz will implement the same changes, excluding kerosene which they do not carry.

The adjustments will take effect at 6 a.m. on Tuesday, January 2, for all the firms except for Caltex and Cleanfuel, which will both implement the changes at 12:01 a.m. the same day.

Firms last week hiked prices per liter of gasoline by P1.60, diesel by P1.70, and kerosene by P1.54.

https://www.gmanetwork.com/news/money/companies/892258/gasoline-diesel-kerosene-prices-up-by-more-than-p1-liter-on-last-week-of-2023/story/

Latest data available from the DOE indicate year-to-date net increases of P12.60 per liter for gasoline, P5.65 per liter for diesel, and P1.24 per liter for kerosene for 2023. —Jon Viktor D. Cabuenas/KBK, GMA Integrated News