Gasoline prices down for second straight week Tuesday; diesel and kerosene for fifth

Pump prices will be rolled back on Tuesday, marking the fifth straight week of cuts for diesel and kerosene and the second for gasoline, albeit lower than those seen previously.

In separate advisories, Chevron Philippines Inc. (Caltex), Pilipinas Shell Petroleum Corp., and Seaoil Philippines Inc. said they will cut down prices per liter of gasoline by P0.40, diesel by P0.45, and kerosene by P0.85.

Cleanfuel, Petro Gazz, 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, October 4, except for Caltex and Cleanfuel which will both adjust prices at 12:01 a.m. the same day.

Oil firms last week cut prices per liter of gasoline by P1.65, diesel by P1.25, and kerosene by P1.35.

The latest data available from the Department of Energy (DOE) indicate that year-to-date total adjustments stand at a net increase of P14.85 per liter for gasoline, P29.40 per liter for diesel, and P24.10 per liter for kerosene.

Fare hikes for public land transportation took effect on Monday, October 3, as approved by the Land Transportation Franchising and Regulatory Board (LTFRB), as the agency recognized the increase in petroleum prices.—AOL, GMA News