Gasoline, diesel, kerosene price rollback set Tuesday

Firms on Monday announced another round of pump price rollbacks this week, marking the third straight week of cuts for kerosene and diesel.

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 P0.75, diesel by P0.85, and kerosene by P0.80.

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, July 30, 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 announcements for the week.

The latest announcements are in line with projections made by the Department of Energy-Oil Industry Management Bureau (DOE-OIMB), citing oil market expectations of “plentiful supplies and weak demand.”

Firms last week hiked prices per liter of gasoline by P0.10, while rolling back those of diesel by P0.40, and kerosene P0.70.

This brought year-to-date adjustments to net increase of P10.35 per liter for gasoline, P7.75 per liter for diesel, and P0.50 per liter for kerosene as of July 23, 2024. — RSJ, GMA Integrated News