Gasoline, diesel, kerosene price rollback to take effect Tuesday

Pump prices of fuel products will be rolled back on Tuesday, marking the third straight week of cuts for gasoline, and the fourth for both diesel and kerosene.

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 P2.00, diesel by P0.50, 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, May 14, for all the firms except for Cleanfuel which will adjust prices at 12:01 a.m. the same day.

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

The announcements are in line with projections made by the Department of Energy-Oil Industry Management Bureau (DOE-OIMB), on the back of the sustained increase in US inventories, and the reported ceasefire proposal for Gaza, among others.

Firms last week rolled back prices per liter of gasoline by P0.75, diesel by P0.90, and kerosene by P1.05.
Year-to-date adjustments stood at a net increase of P9.25 per liter for gasoline and P4.70 per liter for diesel, and a net decrease of P0.80 per liter for kerosene as of May 7, 2024. —KG, GMA Integrated News