Gasoline, diesel, kerosene prices down Tuesday

Motorists will be greeted with lower pump prices starting Tuesday, as firms announced a rollback following the upward adjustment implemented in the past week.

In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Seaoil Philippines Corp. and Shell Pilipinas Corp. said they will lower prices per liter of gasoline by P0.85, diesel by P0.75, and kerosene by P0.90.

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

The changes will take effect at 6 a.m. on Tuesday, November 19, for all the firms except for Cleanfuel which will roll back prices at 12:01 a.m. the same day.

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

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) earlier projected rollbacks for this week, citing the lowered oil demand forecasts of the Organization of the Petroleum Exporting Countries (OPEC) and its partners, and the downgraded crude price forecast of the US Energy Information Administration.

Firms last week hiked prices of gasoline by P1.50 per liter, diesel by P2.10 per liter, and kerosene by P1.20 per liter.

Year-to-date adjustments stood at a net increase of P8.65 per liter for gasoline and P7.30 per liter for diesel, and a net decrease of P2.60 per liter for kerosene as of November 5, 2024.—AOL/RSJ, GMA Integrated News